Bank of Marin Bancorp (NASDAQ:BMRC) Downgraded by Wall Street Zen to Sell

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on the company. Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. UBS Group set a $30.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. DA Davidson increased their price objective on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a report on Tuesday. One investment 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, Bank of Marin Bancorp has an average rating of “Moderate Buy” and an average target price of $30.10.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $26.85 on Friday. Bank of Marin Bancorp has a fifty-two week low of $19.14 and a fifty-two week high of $28.48. The firm has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $25.18. The company has a market capitalization of $432.02 million, a price-to-earnings ratio of -11.93 and a beta of 0.86.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its 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 business had revenue of ($35.47) million for the quarter, compared to analyst estimates 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%. Equities research analysts forecast that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at $31,000. Russell Investments Group Ltd. raised its stake in 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 during the period. Tower Research Capital LLC TRC raised its position in shares of Bank of Marin Bancorp by 124.6% during 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. BNP Paribas Financial Markets increased its position in Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after buying an additional 1,356 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth about $69,000. Hedge funds and other 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.