Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Raised to $32.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target raised by Keefe, Bruyette & Woods from $31.00 to $32.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Other equities research analysts have also issued reports about the stock. Brean Capital lowered shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Tuesday, July 28th. DA Davidson set a $34.00 price objective on Bank of Marin Bancorp and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.50.

Bank of Marin Bancorp Stock Performance

BMRC opened at $28.73 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12-month low of $21.77 and a 12-month high of $30.92. The firm has a 50 day moving average of $27.56 and a two-hundred day moving average of $26.53. The firm has a market capitalization of $465.14 million, a PE ratio of -31.57 and a beta of 0.79.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.44%. On average, analysts anticipate that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio is -109.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its stake in shares of 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 valued at $31,000 after purchasing an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co raised 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 during the period. Tower Research Capital LLC TRC raised 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 during the period. Finally, BNP Paribas Financial Markets boosted its position in Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after purchasing an additional 1,356 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.