Bank of Marin Bancorp (BMRC) Downgraded by BidaskClub to Strong Sell

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Monday, December 25th. Piper Jaffray Companies restated a “hold” rating and issued a $75.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 9th. DA Davidson restated a “hold” rating and issued a $72.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $74.00 price objective on shares of Bank of Marin Bancorp in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.75.

Shares of Bank of Marin Bancorp (BMRC) traded down $0.30 on Thursday, reaching $69.60. 12,339 shares of the company traded hands, compared to its average volume of 23,123. Bank of Marin Bancorp has a 12 month low of $59.05 and a 12 month high of $77.90. The company has a market capitalization of $429.99, a PE ratio of 26.98, a PEG ratio of 1.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Bank of Marin Bancorp had a return on equity of 8.57% and a net margin of 18.83%. The business had revenue of $22.13 million during the quarter, compared to the consensus estimate of $22.10 million. analysts anticipate that Bank of Marin Bancorp will post 4.05 earnings per share for the current year.

In other news, Director Leslie E. Murphy acquired 3,676 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of $68.00 per share, for a total transaction of $249,968.00. Following the completion of the transaction, the director now directly owns 3,936 shares of the company’s stock, valued at approximately $267,648. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.17% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Bank of Marin Bancorp during the third quarter valued at $113,000. Aperio Group LLC bought a new position in Bank of Marin Bancorp during the third quarter valued at $205,000. Cornerstone Capital Management Holdings LLC. increased its position in Bank of Marin Bancorp by 42.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 4,673 shares of the bank’s stock valued at $286,000 after acquiring an additional 1,400 shares during the last quarter. First Manhattan Co. bought a new position in Bank of Marin Bancorp during the fourth quarter valued at $342,000. Finally, PDT Partners LLC bought a new position in Bank of Marin Bancorp during the second quarter valued at $357,000. Institutional investors and hedge funds own 46.15% of the company’s stock.

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About Bank of Marin Bancorp

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

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