Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Cut to $15.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price lowered by investment analysts at DA Davidson from $17.00 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective would indicate a potential upside of 4.31% from the company’s current price.

Separately, Stephens decreased their target price on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday.

Bank of Marin Bancorp Price Performance

Shares of Bank of Marin Bancorp stock traded down $0.06 during trading hours on Tuesday, hitting $14.38. 38,273 shares of the company’s stock traded hands, compared to its average volume of 64,478. The company has a fifty day simple moving average of $16.16 and a 200-day simple moving average of $18.33. The stock has a market capitalization of $234.39 million, a price-to-earnings ratio of 11.52 and a beta of 0.85. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10). Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. The company had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts forecast that Bank of Marin Bancorp will post 1.23 EPS for the current fiscal year.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its position in Bank of Marin Bancorp by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock valued at $1,385,000 after acquiring an additional 1,879 shares during the last quarter. Perigon Wealth Management LLC increased its position in Bank of Marin Bancorp by 1.9% during the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock valued at $1,409,000 after buying an additional 1,201 shares in the last quarter. North Reef Capital Management LP purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter worth about $1,005,000. Rosenthal Henry Capital Advisors Inc. raised its holdings in Bank of Marin Bancorp by 135.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after buying an additional 25,000 shares during the last quarter. Finally, Private Wealth Partners LLC lifted its position in Bank of Marin Bancorp by 2.7% in the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock valued at $814,000 after acquiring an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.