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

Bank of Marin Bancorp (NASDAQ:BMRC) has received an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $28.40.

Several equities research analysts recently weighed in on BMRC shares. Keefe, Bruyette & Woods cut their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. DA Davidson cut their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. 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. Zacks Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Stephens reissued an “equal weight” rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th.

Bank of Marin Bancorp Trading Down 0.8%

BMRC opened at $26.04 on Friday. Bank of Marin Bancorp has a twelve month low of $20.25 and a twelve month high of $28.48. The company has a 50-day simple moving average of $25.64 and a 200 day simple moving average of $26.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $421.59 million, a price-to-earnings ratio of -12.89 and a beta of 0.82.

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

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Bank of Marin Bancorp’s dividend payout ratio is -49.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Bank of Marin Bancorp by 268.7% in 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. Vanguard Group Inc. lifted its holdings in shares of Bank of Marin Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock worth $20,362,000 after acquiring an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 32,048 shares during the last quarter. HoldCo Asset Management LP lifted 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 acquiring an additional 97,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bank of Marin Bancorp by 1.9% in the first quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after acquiring an additional 8,758 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

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.