Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective 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 research analyst reports. Stephens reiterated an “overweight” rating and issued a $29.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. Piper Sandler reiterated a “neutral” rating and issued a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Finally, Wall Street Zen lowered Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $24.89 on Monday. The firm has a market capitalization of $400.48 million, a P/E ratio of -11.06 and a beta of 0.89. The stock has a fifty day moving average price of $26.67 and a two-hundred day moving average price of $25.69. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of ($35.47) million during the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. On average, equities research analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. Bank of Marin Bancorp’s dividend payout ratio is currently -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of BMRC. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp during the fourth quarter worth approximately $31,000. Russell Investments Group Ltd. lifted its holdings in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after buying an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Bank of Marin Bancorp by 33.6% in the 4th 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 boosted its position in Bank of Marin Bancorp by 124.6% in the 2nd 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 during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Bank of Marin Bancorp by 88.2% in the 3rd 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 during the period. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Company Profile

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.