Analysts Set Bank of Marin Bancorp (NASDAQ:BMRC) Target Price at $30.10

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.10.

A number of brokerages recently issued reports on BMRC. Zacks Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. UBS Group set a $30.00 price target on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Finally, DA Davidson raised their price target on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 28th.

Bank of Marin Bancorp Stock Down 1.0%

BMRC stock opened at $27.25 on Thursday. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48. The company has a market cap of $438.45 million, a PE ratio of -12.11 and a beta of 0.88. The business’s 50-day simple moving average is $26.86 and its 200 day simple moving average is $25.33.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of ($35.47) million for the quarter, compared to analyst estimates of $32.96 million. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, February 5th. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after purchasing an additional 687,615 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Bank of Marin Bancorp by 0.7% during the third quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock worth $20,362,000 after buying an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Bank of Marin Bancorp by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 787,584 shares of the bank’s stock worth $19,123,000 after buying an additional 14,089 shares during the period. HoldCo Asset Management LP increased its stake in shares of Bank of Marin Bancorp by 23.8% in the 3rd quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after acquiring an additional 97,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 385,827 shares of the bank’s stock valued at $10,038,000 after acquiring an additional 13,258 shares during the period. 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.