Bank of Marin Bancorp (NASDAQ:BMRC) Earns Buy Rating from DA Davidson

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $34.00 price objective on the bank’s stock. DA Davidson‘s price objective suggests a potential upside of 17.73% from the stock’s previous close.

A number of other equities research analysts have also commented on BMRC. Weiss Ratings reissued a “hold (c-)” rating on shares of Bank of Marin Bancorp in a research report on Friday, September 25th. Stephens set a $30.00 price target on Bank of Marin Bancorp and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their target price on Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Brean Capital downgraded 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. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.33.

Bank of Marin Bancorp Trading Up 3.9%

NASDAQ:BMRC traded up $1.08 on Tuesday, reaching $28.88. 172,572 shares of the stock traded hands, compared to its average volume of 128,050. The firm has a market capitalization of $467.68 million, a price-to-earnings ratio of -31.74 and a beta of 0.82. Bank of Marin Bancorp has a 1-year low of $23.35 and a 1-year high of $30.92. The company’s 50 day moving average is $27.26 and its 200-day moving average is $26.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $35.07 million for the quarter, compared to analysts’ expectations of $35.11 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. Equities research analysts anticipate that Bank of Marin Bancorp will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Lodestar Private Asset Management LLC increased its holdings in shares of Bank of Marin Bancorp by 8.4% in the 3rd quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock valued at $298,000 after acquiring an additional 849 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Bank of Marin Bancorp by 109.8% in the 2nd quarter. Squarepoint Ops LLC now owns 32,763 shares of the bank’s stock valued at $908,000 after buying an additional 17,143 shares during the period. United Capital Financial Advisors LLC acquired a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $960,000. Bank of America Corp DE acquired a new position in Bank of Marin Bancorp in the 2nd quarter worth about $678,000. Finally, Legal & General Group Plc acquired a new position in Bank of Marin Bancorp in the 2nd quarter worth about $43,000. 52.26% of the stock is owned by institutional investors.

Key Bank of Marin Bancorp News

Here are the key news stories impacting Bank of Marin Bancorp this week:

• Positive Sentiment: Third-quarter earnings beat expectations. BMRC reported earnings of $0.62 per share, up from $0.47 a year earlier and ahead of the $0.57 consensus estimate. Net income was $9.9 million. Bank of Marin Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Margin improvement is expected to provide a future earnings tailwind. Management outlined an approximately 25-basis-point monthly benefit to loan yields over the next year, potentially supporting net interest margins and profitability. Bank of Marin outlines loan-yield benefit
• Positive Sentiment: DA Davidson reaffirmed its “buy” rating and set a $34 price target, implying approximately 17.7% upside from the referenced share price. This reinforces the positive analyst view of BMRC’s earnings outlook.
• Positive Sentiment: The quarterly dividend was maintained at $0.25 per share. The annualized $1.00 payout represents a yield of approximately 3.6%, supporting the stock’s income appeal. Payment is scheduled for November 12 to shareholders of record November 5. Bank of Marin Bancorp declares quarterly cash dividend
• Neutral Sentiment: Revenue was essentially in line with expectations. Third-quarter revenue totaled $35.07 million versus the $35.11 million consensus, suggesting the earnings beat was driven more by profitability than by top-line growth.
• Negative Sentiment: The bank reported net charge-offs for the third quarter. While no major deterioration was specified in the supplied reports, credit losses remain a risk for future earnings and warrant monitoring. Bank of Marin Bancorp reports third-quarter net charge-offs

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.