Bank of Marin Bancorp (NASDAQ:BMRC) Given Consensus Rating of “Hold” by Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has received an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.40.

BMRC has been the topic of several research reports. Piper Sandler dropped their price objective on shares of 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. Keefe, Bruyette & Woods cut their target price 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. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. DA Davidson dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Stephens restated an “equal weight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th.

Bank of Marin Bancorp Price Performance

Shares of Bank of Marin Bancorp stock opened at $28.43 on Friday. The company’s fifty day simple moving average is $26.16 and its two-hundred day simple moving average is $26.17. Bank of Marin Bancorp has a 12-month low of $21.77 and a 12-month high of $30.34. The firm has a market cap of $460.28 million, a PE ratio of -14.07 and a beta of 0.81. 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 (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The business had revenue of $34.14 million during the quarter, compared to the consensus estimate 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%. As a group, equities analysts expect that Bank of Marin Bancorp will post 2.21 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -49.50%.

Institutional Trading of Bank of Marin Bancorp

A number of large investors have recently made changes to their positions in BMRC. Torren Management LLC bought a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at about $31,000. Russell Investments Group Ltd. boosted its holdings in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares during the period. Tower Research Capital LLC TRC increased its stake in Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after purchasing an additional 1,356 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

About Bank of Marin Bancorp

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.