Bank of Marin Bancorp (NASDAQ:BMRC) Research Coverage Started at StockNews.com

Posted by Stephan Byrd on Mar 19th, 2023

StockNews.com started coverage on shares of Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the bank’s stock.

Other analysts have also issued reports about the stock. Janney Montgomery Scott raised shares of Bank of Marin Bancorp from a neutral rating to a buy rating and set a $35.00 price target for the company in a research note on Thursday, March 2nd. TheStreet lowered shares of Bank of Marin Bancorp from a b rating to a c+ rating in a research note on Tuesday, February 14th.

Bank of Marin Bancorp Trading Down 5.6 %

NASDAQ BMRC opened at $24.35 on Thursday. Bank of Marin Bancorp has a 52 week low of $23.10 and a 52 week high of $36.78. The stock has a market cap of $390.33 million, a price-to-earnings ratio of 8.34 and a beta of 0.74. The company has a 50-day moving average price of $29.83 and a two-hundred day moving average price of $31.82.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last posted its earnings results on Monday, January 23rd. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. Bank of Marin Bancorp had a net margin of 33.05% and a return on equity of 11.54%. The firm had revenue of $36.79 million during the quarter, compared to analysts’ expectations of $37.03 million. As a group, equities research analysts expect that Bank of Marin Bancorp will post 2.87 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, February 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, February 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 34.25%.

Insider Activity at Bank of Marin Bancorp

In related news, Director Russell A. Colombo sold 2,200 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $29.85, for a total transaction of $65,670.00. Following the completion of the sale, the director now directly owns 34,861 shares of the company’s stock, valued at $1,040,600.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Russell A. Colombo sold 2,200 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $29.85, for a total transaction of $65,670.00. Following the completion of the sale, the director now directly owns 34,861 shares of the company’s stock, valued at $1,040,600.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven I. Barlow sold 900 shares of the stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $29.43, for a total transaction of $26,487.00. Following the sale, the director now directly owns 1,921 shares of the company’s stock, valued at $56,535.03. The disclosure for this sale can be found here. Company insiders own 4.72% of the company’s stock.

Institutional Trading of Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its stake in Bank of Marin Bancorp by 0.7% during the third quarter. Mutual of America Capital Management LLC now owns 77,178 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 562 shares during the last quarter. Private Wealth Partners LLC purchased a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at approximately $539,000. Russell Investments Group Ltd. lifted its position in shares of Bank of Marin Bancorp by 3.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 63,645 shares of the bank’s stock valued at $1,905,000 after acquiring an additional 1,934 shares in the last quarter. rhino investment partners Inc lifted its position in shares of Bank of Marin Bancorp by 55.6% in the 2nd quarter. rhino investment partners Inc now owns 155,433 shares of the bank’s stock valued at $4,940,000 after acquiring an additional 55,515 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Bank of Marin Bancorp by 4.2% in the 2nd quarter. Swiss National Bank now owns 37,600 shares of the bank’s stock valued at $1,195,000 after acquiring an additional 1,500 shares in the last quarter. 48.88% of the stock is owned by institutional investors and hedge funds.

About Bank of Marin Bancorp

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Bank of Marin Bancorp is a bank holding company, which operates through the Bank of Marin, providing financial services to customers. It offers traditional community banking activities and wealth management and trust services, personal and business checking and savings accounts, certificates of deposit, individual retirement accounts, health savings accounts, certificate of deposit account registry services, insured cash sweep, and demand deposit marketplace accounts.