Bank of Marin Bancorp Upgraded by Zacks to Outperform (BMRC)
Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday, Analyst Ratings Network reports. The firm currently has a $47.00 price objective on the stock. Zacks‘ target price points to a potential upside of 7.09% from the company’s current price.
Bank of Marin Bancorp (NASDAQ:BMRC) traded down 0.55% on Wednesday, hitting $43.50. The stock had a trading volume of 17,851 shares. Bank of Marin Bancorp has a 52 week low of $36.89 and a 52 week high of $46.21. The stock’s 50-day moving average is $43.71 and its 200-day moving average is $42.67. The company has a market cap of $236.3 million and a price-to-earnings ratio of 14.44.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.67 by $0.26. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, analysts predict that Bank of Marin Bancorp will post $3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of 0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, February 5th.
A number of other firms have also recently commented on BMRC. Analysts at Sandler O’Neill raised their price target on shares of Bank of Marin Bancorp from $2.00 to $47.00 in a research note to investors on Tuesday. Analysts at FIG Partners upgraded shares of Bank of Marin Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, up previously from $45.00. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $46.83.
Bank of Marin Bancorp (NASDAQ:BMRC) is the holding company for Bank of Marin (the Bank).
To view Zacks’ full report, visit www.zacks.com
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