Bank of Marin Bancorp (NASDAQ:BMRC) Receives $28.40 Average Price Target from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.40.

A number of equities analysts have recently commented on BMRC shares. Keefe, Bruyette & Woods lowered their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Stephens reissued an “equal weight” rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. DA Davidson lowered their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Torren Management LLC acquired a new position in Bank of Marin Bancorp in the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its holdings in Bank of Marin Bancorp by 2,543.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Bank of Marin Bancorp by 124.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after purchasing an additional 407 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $25.93 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Marin Bancorp has a 52 week low of $21.21 and a 52 week high of $28.48. The stock has a market capitalization of $419.81 million, a P/E ratio of -12.84 and a beta of 0.82. The stock has a fifty day moving average of $26.00 and a 200-day moving average of $26.17.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%.The business had revenue of $34.14 million for the quarter, compared to analyst estimates of $33.87 million. On average, sell-side analysts expect that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -49.50%.

Bank of Marin Bancorp Company Profile

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.