Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded by DA Davidson to “Buy”

DA Davidson upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $24.00 price target on the bank’s stock. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2025 earnings at $1.23 EPS.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Stephens reiterated an equal weight rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th.

Bank of Marin Bancorp Stock Up 3.2 %

BMRC opened at $21.81 on Thursday. The stock has a market capitalization of $355.20 million, a price-to-earnings ratio of 26.28 and a beta of 0.92. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24. The company has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $17.67.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). The firm had revenue of $37.12 million for the quarter, compared to the consensus estimate of $25.85 million. Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. During the same period last year, the company posted $0.28 EPS. Sell-side analysts anticipate that Bank of Marin Bancorp will post 0.47 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.59%. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after buying an additional 1,096 shares during the period. Riverview Trust Co raised its stake in shares of Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,001 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Bank of Marin Bancorp by 348.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after purchasing an additional 1,832 shares during the period. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the third quarter worth $122,000. Finally, XTX Topco Ltd bought a new stake in shares of Bank of Marin Bancorp in the second quarter worth $168,000. 52.26% of the stock is owned by institutional investors and hedge funds.

About Bank of Marin Bancorp

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.