Bank of Marin Bancorp (NASDAQ:BMRC) Receives Average Rating of “Hold” from Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $28.40.

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Stephens reiterated an “equal weight” rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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 on the stock in a research note on Wednesday, April 29th. Finally, DA Davidson cut their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 28th.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $28.43 on Friday. The stock has a 50 day moving average of $26.16 and a 200 day moving average of $26.17. The company has a market capitalization of $460.28 million, a price-to-earnings ratio of -14.07 and a beta of 0.81. Bank of Marin Bancorp has a 12 month low of $21.77 and a 12 month high of $30.34. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11.

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

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio is currently -49.50%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRC. Wellington Management Group LLP lifted its holdings in shares of Bank of Marin Bancorp by 268.7% during the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after acquiring an additional 687,615 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $20,362,000 after buying an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock worth $20,577,000 after buying an additional 32,048 shares in the last quarter. HoldCo Asset Management LP increased its holdings in shares of 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 worth $12,247,000 after buying an additional 97,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Bank of Marin Bancorp by 1.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock valued at $11,759,000 after acquiring an additional 8,758 shares during the last quarter. Hedge funds and other 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.