Bank of Marin Bancorp (NASDAQ:BMRC) Receives $30.10 Average Price Target from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.10.

BMRC has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. DA Davidson raised their price target on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Stephens reiterated an “overweight” rating and issued a $29.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th.

Bank of Marin Bancorp Stock Up 0.8%

Bank of Marin Bancorp stock opened at $27.61 on Thursday. The stock has a market cap of $444.24 million, a price-to-earnings ratio of -12.27 and a beta of 0.88. The business has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $25.29. Bank of Marin Bancorp has a 52 week low of $19.14 and a 52 week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of ($35.47) million during the quarter, compared to the consensus estimate of $32.96 million. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. On average, research analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in Bank of Marin Bancorp by 43.4% in the 1st quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock worth $877,000 after purchasing an additional 12,019 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Bank of Marin Bancorp by 4,337.9% in the first quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock worth $186,000 after buying an additional 8,242 shares during the period. Empowered Funds LLC lifted its stake in shares of Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares during the last quarter. Jane Street Group LLC purchased a new stake in Bank of Marin Bancorp during the 1st quarter valued at about $441,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Bank of Marin Bancorp during the 2nd quarter valued at about $69,000. Institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.