Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Recommendation of “Hold” by Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has received an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $28.40.

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Stephens restated an “equal weight” rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Piper Sandler dropped their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, DA Davidson cut their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRC. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp during the 4th quarter worth $31,000. Russell Investments Group Ltd. boosted its holdings in Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after buying an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after buying an additional 379 shares in the last quarter. Tower Research Capital LLC TRC grew its position in 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 buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after buying an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Up 0.2%

BMRC opened at $25.97 on Wednesday. Bank of Marin Bancorp has a 52 week low of $21.21 and a 52 week high of $28.48. The business has a 50 day moving average price of $25.97 and a two-hundred day moving average price 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 company has a market cap of $420.45 million, a PE ratio of -12.86 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results 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 company had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. As a group, research analysts anticipate that Bank of Marin Bancorp will post 2.21 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio is currently -49.50%.

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.