Bank of Marin Bancorp (NASDAQ:BMRC) Cut to “Hold” at BidaskClub
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “sell” rating in a report on Thursday, April 25th. DA Davidson reiterated a “neutral” rating on shares of Bank of Marin Bancorp in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Bank of Marin Bancorp currently has a consensus rating of “Hold” and a consensus price target of $44.75.
BMRC stock traded up $0.30 during mid-day trading on Thursday, hitting $42.23. 593 shares of the company were exchanged, compared to its average volume of 21,951. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $580.46 million, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. Bank of Marin Bancorp has a 1-year low of $38.00 and a 1-year high of $45.42.
In other news, insider Peter Pelham sold 2,818 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $41.93, for a total value of $118,158.74. Following the sale, the insider now directly owns 16,981 shares in the company, valued at $712,013.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Russell A. Colombo sold 2,553 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $42.10, for a total transaction of $107,481.30. Following the completion of the sale, the chief executive officer now owns 65,409 shares in the company, valued at $2,753,718.90. The disclosure for this sale can be found here. Insiders sold 5,995 shares of company stock worth $251,505 over the last quarter. 5.29% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BMRC. Bank of New York Mellon Corp increased its holdings in Bank of Marin Bancorp by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 38,868 shares of the bank’s stock worth $3,261,000 after buying an additional 782 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bank of Marin Bancorp by 1.1% during the third quarter. Vanguard Group Inc. now owns 335,756 shares of the bank’s stock worth $28,170,000 after buying an additional 3,751 shares during the last quarter. Bank of Montreal Can increased its holdings in Bank of Marin Bancorp by 101.3% during the fourth quarter. Bank of Montreal Can now owns 4,596 shares of the bank’s stock worth $190,000 after buying an additional 2,313 shares during the last quarter. Rhumbline Advisers increased its holdings in Bank of Marin Bancorp by 191.7% during the fourth quarter. Rhumbline Advisers now owns 19,820 shares of the bank’s stock worth $817,000 after buying an additional 13,025 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its holdings in Bank of Marin Bancorp by 99.2% during the fourth quarter. Chicago Equity Partners LLC now owns 15,390 shares of the bank’s stock worth $635,000 after buying an additional 7,665 shares during the last quarter. Institutional investors and hedge funds own 42.61% of the company’s stock.
About Bank of Marin Bancorp
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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