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

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.50.

Several brokerages recently commented on BMRC. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Piper Sandler restated a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. DA Davidson set a $34.00 target price on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Finally, Stephens set a $30.00 price target on shares of Bank of Marin Bancorp and gave the company an “equal weight” rating in a research report on Wednesday, July 29th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC opened at $28.40 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $28.08 and its two-hundred day moving average is $26.67. The company has a market cap of $459.80 million, a P/E ratio of -31.21 and a beta of 0.78. Bank of Marin Bancorp has a 12 month low of $22.50 and a 12 month high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The business had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. On average, equities analysts expect that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -109.89%.

Institutional Trading of Bank of Marin Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Bank of Marin Bancorp during the 2nd quarter worth about $44,326,000. Dimensional Fund Advisors LP grew its stake in shares of Bank of Marin Bancorp by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock valued at $20,577,000 after purchasing an additional 32,048 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Bank of Marin Bancorp by 1.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after buying an additional 8,758 shares in the last quarter. Heartland Advisors Inc. acquired a new position in Bank of Marin Bancorp during the 2nd quarter worth $9,017,000. Finally, Algebris UK Ltd. bought a new position in Bank of Marin Bancorp in the 2nd quarter valued at $8,092,000. 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-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.

Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.