Zacks Research Upgrades Bank of Marin Bancorp (NASDAQ:BMRC) to Hold

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently issued reports on BMRC. Keefe, Bruyette & Woods dropped their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Stephens reiterated an “equal weight” rating and set a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. DA Davidson dropped their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Piper Sandler cut 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 note on Thursday, April 2nd. Finally, Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Bank of Marin Bancorp presently has a consensus rating of “Hold” and a consensus target price of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

Bank of Marin Bancorp stock opened at $27.71 on Monday. The company has a 50 day moving average of $26.00 and a 200-day moving average of $26.14. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a twelve month low of $21.77 and a twelve month high of $28.48. The stock has a market capitalization of $448.71 million, a PE ratio of -13.72 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The company had revenue of $34.14 million for the quarter, compared to analyst estimates of $33.87 million. Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Bank of Marin Bancorp by 43.4% in the first quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock valued at $877,000 after buying an additional 12,019 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after acquiring an additional 8,242 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Bank of Marin Bancorp by 8.3% during the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Bank of Marin Bancorp during the first quarter valued at about $441,000. Finally, Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp during the second quarter worth about $70,000. 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.