Bank of Marin Bancorp (NASDAQ:BMRC) Stock Has Consensus Target Price of $32.20

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given an average rating of “Hold” by the seven analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.20.

BMRC has been the topic of a number of recent research reports. Stephens upped their price objective on Bank of Marin Bancorp from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of Bank of Marin Bancorp in a report on Thursday, October 1st. Weiss Ratings raised Bank of Marin Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. DA Davidson restated a “buy” rating and set a $34.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, October 27th. Finally, Brean Capital downgraded Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Tuesday, July 28th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC opened at $28.49 on Friday. The firm has a fifty day simple moving average of $27.67 and a two-hundred day simple moving average of $26.89. Bank of Marin Bancorp has a 52 week low of $23.35 and a 52 week high of $30.92. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $461.25 million, a P/E ratio of 12.35 and a beta of 0.83.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $35.07 million for the quarter, compared to analysts’ expectations of $35.11 million. Bank of Marin Bancorp had a negative net margin of 6.48% and a positive return on equity of 9.48%. On average, analysts expect that Bank of Marin Bancorp will post 2.33 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Thursday, November 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio is currently -131.58%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of large investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Bank of Marin Bancorp in the 2nd quarter worth about $43,000. Allworth Financial LP bought a new stake in Bank of Marin Bancorp in the second quarter worth about $87,000. Wealth Enhancement Advisory Services LLC bought a new stake in Bank of Marin Bancorp in the second quarter worth about $266,000. Lodestar Private Asset Management LLC boosted its position in shares of Bank of Marin Bancorp by 8.4% during the third quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock valued at $298,000 after buying an additional 849 shares during the period. Finally, Ieq Capital LLC purchased a new position in shares of Bank of Marin Bancorp during the second quarter valued at approximately $380,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

About Bank of Marin Bancorp

Bank of Marin Bancorp is a bank holding company and the parent of Bank of Marin, a community bank founded in 1990. The bank provides personal and business banking services to individuals, businesses, and nonprofit organizations in Northern California. Its offerings include checking and savings accounts, certificates of deposit, commercial and real estate lending, residential mortgages, and cash-management services. Bank of Marin also provides wealth management and trust services. Based in Novato, California, the bank serves communities across the San Francisco Bay Area and the Sacramento region.