Brokerages Set Bank of Marin Bancorp (NASDAQ:BMRC) PT at $28.40

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.40.

Several equities research analysts recently issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods decreased their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Zacks Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after purchasing an additional 687,615 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in Bank of Marin Bancorp in the 4th quarter worth approximately $5,191,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Bank of Marin Bancorp by 85.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after buying an additional 125,816 shares during the last quarter. Westmount Partners LLC acquired a new position in shares of Bank of Marin Bancorp during the fourth quarter worth approximately $2,980,000. Finally, UBS Group AG lifted its holdings in shares of Bank of Marin Bancorp by 143.9% during the third quarter. UBS Group AG now owns 166,615 shares of the bank’s stock worth $4,045,000 after buying an additional 98,311 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC opened at $26.28 on Wednesday. The stock has a market cap of $425.47 million, a price-to-earnings ratio of -13.01 and a beta of 0.82. Bank of Marin Bancorp has a 52 week low of $21.21 and a 52 week high of $28.48. The company’s 50-day moving average price is $26.00 and its 200 day moving average price is $26.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The business had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. As a group, research analysts forecast that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -49.50%.

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.