Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded to “Hold” at Wall Street Zen

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $30.00 target price (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday. Finally, DA Davidson lifted their price objective on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Bank of Marin Bancorp has a consensus rating of “Moderate Buy” and an average price target of $28.40.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $27.15 on Friday. The stock has a market cap of $436.84 million, a price-to-earnings ratio of 43.79 and a beta of 0.85. The company has a 50 day moving average of $25.93 and a 200-day moving average of $24.50. Bank of Marin Bancorp has a one year low of $19.14 and a one year high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, March 7th. The bank reported $0.61 earnings per share (EPS) for the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. The firm had revenue of $31.32 million for the quarter. Equities research analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after acquiring an additional 1,221 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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. Ameritas Advisory Services LLC acquired a new position in Bank of Marin Bancorp in the 2nd quarter worth $69,000. BNP Paribas Financial Markets increased its holdings in Bank of Marin Bancorp by 88.2% during the 3rd 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. Finally, Quantbot Technologies LP acquired a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $70,000. Institutional investors own 52.26% of the company’s stock.

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.