Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Zacks Research

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on BMRC. Stephens reiterated an “equal weight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. DA Davidson cut their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Piper Sandler lowered their price target on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.40.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $27.71 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $26.00 and a 200 day simple moving average of $26.14. Bank of Marin Bancorp has a fifty-two week low of $21.77 and a fifty-two week high of $28.48. The firm has a market cap of $448.71 million, a P/E ratio of -13.72 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The firm had revenue of $34.14 million during the quarter, compared to the consensus estimate of $33.87 million. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. Sell-side analysts predict that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Institutional Trading of Bank of Marin Bancorp

A number of large investors have recently made changes to their positions in BMRC. Torren Management LLC bought a new position in Bank of Marin Bancorp during the fourth quarter worth about $31,000. Russell Investments Group Ltd. increased its holdings in shares of Bank of Marin Bancorp by 2,543.8% in the third 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 in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after acquiring an additional 379 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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. Finally, BNP Paribas Financial Markets raised its position in shares of Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after purchasing an additional 1,356 shares during the period. Institutional investors own 52.26% of the company’s stock.

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.