Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Keefe, Bruyette & Woods dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. DA Davidson cut their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

Bank of Marin Bancorp stock opened at $27.71 on Monday. Bank of Marin Bancorp has a 12 month low of $21.77 and a 12 month high of $28.48. The stock has a fifty day simple moving average of $26.00 and a two-hundred day simple moving average of $26.14. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The firm has a market cap of $448.71 million, a price-to-earnings ratio of -13.72 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The company had revenue of $34.14 million for the quarter, compared to analysts’ expectations of $33.87 million. Equities analysts predict that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Bank of Marin Bancorp’s dividend payout ratio is -49.50%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Torren Management LLC bought a new position in Bank of Marin Bancorp in the 4th quarter worth $31,000. Russell Investments Group Ltd. boosted its stake in shares of Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after acquiring an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,040 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Bank of Marin Bancorp by 17.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock valued at $72,000 after purchasing an additional 407 shares during the period. 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.