Keefe, Bruyette & Woods Cuts Bank of Marin Bancorp (NASDAQ:BMRC) Price Target to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price decreased by Keefe, Bruyette & Woods from $25.00 to $21.00 in a report released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Several other equities research analysts also recently issued reports on BMRC. Stephens lowered their price objective on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating for the company in a research report on Tuesday. DA Davidson lowered their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a report on Tuesday.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC traded up $0.37 during trading hours on Friday, hitting $15.56. The stock had a trading volume of 80,299 shares, compared to its average volume of 74,263. The business’s 50 day moving average is $16.01 and its 200-day moving average is $18.26. The company has a market cap of $253.58 million, a price-to-earnings ratio of 18.75 and a beta of 0.88. Bank of Marin Bancorp has a one year low of $12.89 and a one year high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 0.96 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 6.43%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Bank of Marin Bancorp in the 3rd quarter worth about $130,000. Rosenthal Henry Capital Advisors Inc. raised its position in shares of Bank of Marin Bancorp by 135.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock valued at $795,000 after buying an additional 25,000 shares in the last quarter. Barclays PLC boosted its stake in shares of Bank of Marin Bancorp by 7.7% in the third quarter. Barclays PLC now owns 23,605 shares of the bank’s stock valued at $432,000 after buying an additional 1,683 shares during the period. Mutual of America Capital Management LLC grew its position in Bank of Marin Bancorp by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock worth $1,385,000 after buying an additional 1,879 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth $1,005,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.