Bank of Marin Bancorp (NASDAQ:BMRC) Receives Average Rating of “Hold” from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $28.40.

Several research firms have weighed in on BMRC. Piper Sandler reduced their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Keefe, Bruyette & Woods lowered their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Stephens reaffirmed an “equal weight” rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th.

Bank of Marin Bancorp Trading Up 1.5%

Shares of NASDAQ BMRC opened at $28.47 on Friday. The company’s fifty day moving average is $26.36 and its 200-day moving average is $26.18. The stock has a market cap of $460.93 million, a price-to-earnings ratio of -14.09 and a beta of 0.81. Bank of Marin Bancorp has a twelve month low of $21.77 and a twelve month high of $30.34. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last released 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 firm had revenue of $34.14 million during the quarter, compared to the consensus estimate of $33.87 million. Equities research analysts predict that Bank of Marin Bancorp will post 2.21 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -49.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Bank of Marin Bancorp by 1.9% during the first quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after acquiring an additional 8,758 shares in the last quarter. Quantinno Capital Management LP lifted its position in Bank of Marin Bancorp by 20.6% in the 1st quarter. Quantinno Capital Management LP now owns 59,476 shares of the bank’s stock valued at $1,524,000 after acquiring an additional 10,142 shares in the last quarter. Renaissance Technologies LLC lifted its position in Bank of Marin Bancorp by 25.3% in the 1st quarter. Renaissance Technologies LLC now owns 119,392 shares of the bank’s stock valued at $3,060,000 after acquiring an additional 24,100 shares in the last quarter. Sei Investments Co. lifted its position in Bank of Marin Bancorp by 142.0% in the 1st quarter. Sei Investments Co. now owns 22,011 shares of the bank’s stock valued at $564,000 after acquiring an additional 12,914 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock worth $20,577,000 after purchasing an additional 32,048 shares during the period. Institutional investors and hedge funds 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.