Brokerages Set Bank of Marin Bancorp (NASDAQ:BMRC) PT at $28.40

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $28.40.

A number of brokerages have commented on BMRC. DA Davidson boosted their price objective on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Finally, Zacks Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at approximately $1,365,000. HoldCo Asset Management LP acquired a new position in Bank of Marin Bancorp in the second quarter worth $9,305,000. Ameritas Advisory Services LLC bought a new stake in Bank of Marin Bancorp during the second quarter valued at $69,000. Creative Planning raised its holdings in shares of Bank of Marin Bancorp by 101.1% during the second quarter. Creative Planning now owns 53,363 shares of the bank’s stock worth $1,219,000 after purchasing an additional 26,824 shares during the period. Finally, Fourthstone LLC lifted its position in shares of Bank of Marin Bancorp by 291.7% in the 2nd quarter. Fourthstone LLC now owns 276,578 shares of the bank’s stock worth $6,317,000 after buying an additional 205,969 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Down 0.4%

Bank of Marin Bancorp stock opened at $26.80 on Friday. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48. The firm has a fifty day moving average of $26.57 and a 200-day moving average of $25.09. The firm has a market capitalization of $431.35 million, a P/E ratio of 43.23 and a beta of 0.86.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 27th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. The business had revenue of $30.94 million for the quarter, compared to analyst estimates of $30.92 million. On average, research analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, November 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 161.29%.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.