BidaskClub downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Bank of Marin Bancorp from a hold rating to a buy rating in a report on Saturday, June 3rd. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $68.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Zacks Investment Research raised Bank of Marin Bancorp from a sell rating to a hold rating in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies cut their price target on Bank of Marin Bancorp from $70.00 to $69.00 and set a neutral rating for the company in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $71.00.

Shares of Bank of Marin Bancorp (BMRC) traded down 0.90% during trading on Tuesday, reaching $65.95. 18,064 shares of the company were exchanged. Bank of Marin Bancorp has a one year low of $48.50 and a one year high of $75.05. The company has a 50 day moving average price of $63.39 and a 200-day moving average price of $65.34. The stock has a market capitalization of $402.95 million, a price-to-earnings ratio of 18.13 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a return on equity of 9.63% and a net margin of 26.72%. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $20.33 million. Equities analysts predict that Bank of Marin Bancorp will post $3.25 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, August 4th will be given a dividend of $0.29 per share. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.76%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 29.59%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in Bank of Marin Bancorp during the first quarter valued at $4,623,000. Vanguard Group Inc. boosted its position in Bank of Marin Bancorp by 20.3% in the first quarter. Vanguard Group Inc. now owns 213,212 shares of the bank’s stock valued at $13,720,000 after buying an additional 36,024 shares during the last quarter. State Street Corp boosted its position in Bank of Marin Bancorp by 13.7% in the fourth quarter. State Street Corp now owns 112,543 shares of the bank’s stock valued at $7,850,000 after buying an additional 13,526 shares during the last quarter. Oxford Asset Management purchased a new position in Bank of Marin Bancorp during the first quarter valued at $842,000. Finally, Bowling Portfolio Management LLC purchased a new position in Bank of Marin Bancorp during the second quarter valued at $593,000. Hedge funds and other institutional investors own 41.89% of the company’s stock.

About Bank of Marin Bancorp

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

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