Bank of Marin Bancorp (NASDAQ:BMRC) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research report report published on Thursday.

Several other research firms have also recently weighed in on BMRC. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 10th. Stephens reissued an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Bank of Marin Bancorp Trading Up 1.0 %

Shares of BMRC stock opened at $23.58 on Thursday. The firm’s fifty day moving average price is $24.38 and its two-hundred day moving average price is $22.00. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The firm has a market capitalization of $379.17 million, a P/E ratio of -27.42 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The business had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, equities research analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds have recently added to or reduced their stakes in BMRC. Dimensional Fund Advisors LP raised its position in shares of Bank of Marin Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares during the period. State Street Corp raised its holdings in Bank of Marin Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after acquiring an additional 3,073 shares during the period. Geode Capital Management LLC lifted its position in Bank of Marin Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares during the last quarter. Basswood Capital Management L.L.C. bought a new stake in shares of Bank of Marin Bancorp during the third quarter worth approximately $3,411,000. Finally, Renaissance Technologies LLC grew its position in shares of Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 34,200 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.