Bank of Marin Bancorp (NASDAQ:BMRC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.10.

Several brokerages recently issued reports on BMRC. DA Davidson raised their target price on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $30.00 target price (up from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. UBS Group set a $30.00 price target on Bank of Marin Bancorp in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. 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

Several institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP boosted its holdings in Bank of Marin Bancorp by 7.1% in the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock valued at $241,000 after purchasing an additional 696 shares during the period. Tower Research Capital LLC TRC lifted its position in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares during the period. CWM LLC grew its stake in Bank of Marin Bancorp by 41.5% during the second quarter. CWM LLC now owns 3,895 shares of the bank’s stock worth $89,000 after buying an additional 1,142 shares in the last quarter. Torren Management LLC bought a new position in Bank of Marin Bancorp in the 4th quarter valued at about $31,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after acquiring an additional 1,221 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Stock Up 1.5%

NASDAQ:BMRC opened at $27.58 on Thursday. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48. The firm has a market capitalization of $443.76 million, a price-to-earnings ratio of -12.26 and a beta of 0.88. The stock’s 50 day moving average price is $26.82 and its two-hundred day moving average price is $25.23.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of ($35.47) million during the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. As a group, analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, February 5th. Bank of Marin Bancorp’s dividend payout ratio is currently -44.44%.

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.