Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a strong sell rating to a hold rating in a research report report published on Saturday morning.

Several other research firms also recently weighed in on BMRC. Stephens restated an “equal weight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods cut their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Zacks Research downgraded Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. DA Davidson cut their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Piper Sandler cut their price target on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.40.

Bank of Marin Bancorp Stock Down 0.7%

Shares of NASDAQ:BMRC opened at $25.42 on Friday. Bank of Marin Bancorp has a 52-week low of $20.25 and a 52-week high of $28.48. The firm has a market capitalization of $411.55 million, a P/E ratio of -12.58 and a beta of 0.82. The stock has a 50 day moving average price of $25.47 and a 200-day moving average price of $26.18. 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 (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The company had revenue of $34.14 million during the quarter, compared to analysts’ expectations of $33.87 million. Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%. As a group, equities research analysts anticipate that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

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

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BMRC. Wellington Management Group LLP boosted its stake in shares of Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after buying an additional 687,615 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter worth $5,191,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Bank of Marin Bancorp by 85.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after buying an additional 125,816 shares during the last quarter. Westmount Partners LLC purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter worth $2,980,000. Finally, UBS Group AG boosted its stake in shares of Bank of Marin Bancorp by 143.9% in the 3rd quarter. UBS Group AG now owns 166,615 shares of the bank’s stock worth $4,045,000 after buying an additional 98,311 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.