Bank of Marin Bancorp (NASDAQ:BMRC) Stock Has Average Target Price of $31.33 According to Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $31.33.

A number of brokerages recently commented on BMRC. DA Davidson set a $34.00 price objective on Bank of Marin Bancorp and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bank of Marin Bancorp in a report on Friday, September 25th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Stephens set a $30.00 price objective on Bank of Marin Bancorp and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th.

Institutional Trading of Bank of Marin Bancorp

A number of institutional investors have recently made changes to their positions in BMRC. Squarepoint Ops LLC boosted its position in Bank of Marin Bancorp by 109.8% during the second quarter. Squarepoint Ops LLC now owns 32,763 shares of the bank’s stock worth $908,000 after purchasing an additional 17,143 shares during the period. United Capital Financial Advisors LLC acquired a new stake in Bank of Marin Bancorp during the second quarter worth approximately $960,000. Bank of America Corp DE bought a new stake in shares of Bank of Marin Bancorp during the second quarter worth approximately $678,000. Legal & General Group Plc acquired a new position in shares of Bank of Marin Bancorp in the second quarter valued at approximately $43,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Bank of Marin Bancorp during the second quarter worth approximately $12,642,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 1.3%

Shares of NASDAQ BMRC opened at $26.07 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The company has a market cap of $422.07 million, a price-to-earnings ratio of 12.17 and a beta of 0.82. Bank of Marin Bancorp has a 12-month low of $22.73 and a 12-month high of $30.92. The firm’s 50-day simple moving average is $27.36 and its 200 day simple moving average is $27.07.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data 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 8.51% and a negative net margin of 7.98%. The firm had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. On average, research analysts expect that Bank of Marin Bancorp will post 2.28 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is -109.89%.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is a bank holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals and businesses through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, business loans, lines of credit, construction financing and consumer loans. Bank of Marin also offers cash-management services, treasury management, online and mobile banking, and wealth management services through its affiliated or partnered offerings.

Founded in 1990, Bank of Marin has historically focused on relationship-based banking for customers in the North Bay and surrounding Northern California communities, including Marin, Napa and Sonoma counties and parts of the greater San Francisco Bay Area.