Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Lowered to $28.00 at Piper Sandler

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price reduced by Piper Sandler from $30.50 to $28.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research firms have also weighed in on BMRC. Zacks Research lowered shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings downgraded shares of Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Stephens reissued an “overweight” rating and issued a $29.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Finally, Wall Street Zen cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bank of Marin Bancorp has a consensus rating of “Hold” and a consensus target price of $29.60.

Bank of Marin Bancorp Stock Down 0.2%

NASDAQ BMRC opened at $25.84 on Thursday. The business has a fifty day moving average price of $25.82 and a 200 day moving average price of $25.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $416.80 million, a P/E ratio of -11.48 and a beta of 0.84. Bank of Marin Bancorp has a one year low of $19.14 and a one year high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Friday, March 13th. The bank reported $0.59 earnings per share (EPS) for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. The company had revenue of ($39.66) million for the quarter. Research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after acquiring an additional 687,615 shares during the period. Vanguard Group Inc. increased its holdings in Bank of Marin Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock valued at $20,362,000 after purchasing an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of Marin Bancorp by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 787,584 shares of the bank’s stock valued at $19,123,000 after purchasing an additional 14,089 shares during the last quarter. HoldCo Asset Management LP raised its position in Bank of Marin Bancorp by 23.8% in the third quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after purchasing an additional 97,000 shares during the period. Finally, Geode Capital Management LLC raised its position in Bank of Marin Bancorp by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 385,827 shares of the bank’s stock valued at $10,038,000 after purchasing an additional 13,258 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.