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

Bank of Marin Bancorp (NASDAQ:BMRC) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.40.

BMRC has been the subject of several analyst reports. Stephens reiterated an “equal weight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. DA Davidson decreased their price objective on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Piper Sandler dropped their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research lowered Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $25.97 on Wednesday. Bank of Marin Bancorp has a 12-month low of $21.21 and a 12-month high of $28.48. The stock has a market capitalization of $420.45 million, a P/E ratio of -12.86 and a beta of 0.82. The firm’s 50-day moving average is $25.97 and its two-hundred day moving average is $26.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The firm had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. Equities analysts predict that Bank of Marin Bancorp will post 2.21 earnings per share 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. Investors of record on Thursday, May 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s payout ratio is presently -49.50%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after purchasing an additional 687,615 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth $5,191,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 85.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after buying an additional 125,816 shares during the period. Westmount Partners LLC acquired a new position in Bank of Marin Bancorp in the fourth quarter valued at $2,980,000. Finally, UBS Group AG boosted its holdings in Bank of Marin Bancorp by 143.9% in the third quarter. UBS Group AG now owns 166,615 shares of the bank’s stock valued at $4,045,000 after acquiring an additional 98,311 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.