Bank of Marin Bancorp (NASDAQ:BMRC) Receives $30.67 Consensus Price Target from Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.50.

Several equities analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Brean Capital downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, July 28th. Finally, Stephens set a $30.00 price objective on shares of Bank of Marin Bancorp and gave the company an “equal weight” rating in a report on Wednesday, July 29th.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several large investors have recently modified their holdings of BMRC. Torren Management LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter valued at about $31,000. Russell Investments Group Ltd. increased its stake 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 worth $31,000 after purchasing an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Bank of Marin Bancorp by 33.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after buying an additional 1,040 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Bank of Marin Bancorp by 17.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after buying an additional 407 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $29.14 on Thursday. The firm has a fifty day moving average of $27.50 and a two-hundred day moving average of $26.52. The stock has a market capitalization of $471.78 million, a price-to-earnings ratio of -32.02 and a beta of 0.79. Bank of Marin Bancorp has a 52 week low of $21.77 and a 52 week high of $30.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.44% and a negative net margin of 7.98%.The business had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.02 million. As a group, equities research analysts predict that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 3.4%. Bank of Marin Bancorp’s payout ratio is currently -109.89%.

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.