Bank of Marin Bancorp (NASDAQ:BMRC) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other equities analysts also recently issued reports about the stock. UBS Group set a $30.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating and set a $30.50 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. DA Davidson upped their price objective on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Bank of Marin Bancorp presently has an average rating of “Moderate Buy” and an average price target of $30.10.

Bank of Marin Bancorp Stock Up 2.1%

Shares of NASDAQ:BMRC opened at $27.41 on Friday. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48. The stock has a market cap of $441.03 million, a P/E ratio of -12.18 and a beta of 0.88. The business’s 50 day moving average is $26.81 and its 200 day moving average is $25.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data 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. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%.The firm had revenue of ($35.47) million during the quarter, compared to the consensus estimate of $32.96 million. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

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

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Bank of Marin Bancorp by 268.7% during the third 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. HoldCo Asset Management LP acquired a new stake in shares of Bank of Marin Bancorp in the second quarter valued at approximately $9,305,000. Fourthstone LLC lifted its position in Bank of Marin Bancorp by 291.7% during the second quarter. Fourthstone LLC now owns 276,578 shares of the bank’s stock worth $6,317,000 after buying an additional 205,969 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Bank of Marin Bancorp by 85.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after purchasing an additional 125,816 shares during the last quarter. Finally, Westmount Partners LLC acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at $2,980,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

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.