Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Recommendation of “Hold” by Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $30.10.

BMRC has been the subject of a number of recent research reports. Weiss Ratings lowered Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Stephens restated an “overweight” rating and set a $29.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Zacks Research lowered Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Piper Sandler reissued 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 Price Performance

Bank of Marin Bancorp stock opened at $25.46 on Friday. 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 has a 52-week low of $19.14 and a 52-week high of $28.48. The firm has a market cap of $410.57 million, a PE ratio of -11.32 and a beta of 0.89. The company’s 50 day moving average is $25.96 and its two-hundred day moving average is $25.73.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. The business had revenue of ($39.66) million during the quarter. On average, research analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Bank of Marin Bancorp’s payout ratio is currently -44.44%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Large investors have recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth $31,000. Russell Investments Group Ltd. increased its holdings in Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after buying an additional 1,221 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after buying an additional 379 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake 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 valued at $70,000 after buying an additional 1,356 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.