Bank of Marin Bancorp (BMRC) Upgraded at BidaskClub
BidaskClub upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a hold rating in a report issued on Wednesday.
A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Bank of Marin Bancorp from a strong-buy rating to a hold rating in a research note on Thursday, October 26th. DA Davidson reiterated a hold rating and set a $72.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, October 24th. Finally, Piper Jaffray Companies set a $72.00 price objective on shares of Bank of Marin Bancorp and gave the company a hold rating in a research note on Tuesday, November 28th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $72.60.
Bank of Marin Bancorp (BMRC) traded down $0.60 during midday trading on Wednesday, reaching $68.85. 16,931 shares of the company traded hands, compared to its average volume of 23,686. Bank of Marin Bancorp has a 52-week low of $59.05 and a 52-week high of $77.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $425.35, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.85%. The firm had revenue of $20.85 million for the quarter, compared to analyst estimates of $20.71 million. sell-side analysts anticipate that Bank of Marin Bancorp will post 3.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, November 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.68%. Bank of Marin Bancorp’s dividend payout ratio is currently 34.83%.
In other news, Director Leslie E. Murphy acquired 3,676 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average price of $68.00 per share, for a total transaction of $249,968.00. Following the completion of the purchase, the director now directly owns 3,936 shares of the company’s stock, valued at approximately $267,648. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Bank of Marin Bancorp by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 244,158 shares of the bank’s stock worth $15,028,000 after buying an additional 4,688 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Bank of Marin Bancorp by 5.0% during the second quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after buying an additional 10,713 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Bank of Marin Bancorp during the third quarter worth approximately $8,794,000. Dimensional Fund Advisors LP grew its position in shares of Bank of Marin Bancorp by 37.4% during the third quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock worth $7,660,000 after buying an additional 30,461 shares in the last quarter. Finally, State Street Corp grew its position in shares of Bank of Marin Bancorp by 0.4% during the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after buying an additional 396 shares in the last quarter. 45.17% of the stock is owned by institutional investors and hedge funds.
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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