Bank of Marin Bancorp (NASDAQ:BMRC) Receives $30.10 Consensus Target Price from Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.60.

Several research analysts have commented on the company. Zacks Research downgraded Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Stephens reissued an “overweight” rating and issued a $29.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Wall Street Zen lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Piper Sandler cut their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Weiss Ratings lowered shares of Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Monday, March 16th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Bank of Marin Bancorp by 268.7% during the third quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after acquiring an additional 687,615 shares during the last quarter. HoldCo Asset Management LP acquired a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at $9,305,000. Fourthstone LLC increased its holdings in shares of Bank of Marin Bancorp by 291.7% in the second quarter. Fourthstone LLC now owns 276,578 shares of the bank’s stock worth $6,317,000 after acquiring an additional 205,969 shares in the last quarter. Heartland Advisors Inc. bought a new stake in Bank of Marin Bancorp during the 4th quarter worth approximately $5,191,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Bank of Marin Bancorp by 85.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock valued at $6,635,000 after buying an additional 125,816 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Stock Down 0.2%

Shares of Bank of Marin Bancorp stock opened at $25.84 on Friday. Bank of Marin Bancorp has a 12-month low of $19.14 and a 12-month high of $28.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $25.82 and a two-hundred day moving average price of $25.76. The stock has a market capitalization of $416.80 million, a P/E ratio of -11.48 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The company had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. Equities analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.00 annualized dividend and a yield of 3.9%. Bank of Marin Bancorp’s dividend payout ratio is -44.44%.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.