Zacks Investment Research upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a buy rating in a research report released on Monday morning. Zacks Investment Research currently has $74.00 target price on the bank’s stock.

According to Zacks, “Bank of Marin is a California State chartered bank. “

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $68.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Bank of Marin Bancorp from a hold rating to a buy rating in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Bank of Marin Bancorp from a hold rating to a buy rating in a research note on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $68.00 price objective on shares of Bank of Marin Bancorp and gave the stock a hold rating in a research note on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $70.00.

Shares of Bank of Marin Bancorp (BMRC) opened at 70.25 on Monday. The firm has a market cap of $429.23 million, a P/E ratio of 19.32 and a beta of 0.89. Bank of Marin Bancorp has a one year low of $49.24 and a one year high of $75.05. The firm has a 50 day moving average price of $64.91 and a 200-day moving average price of $64.46.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%. The firm had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $20.33 million. Analysts forecast that Bank of Marin Bancorp will post $3.27 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in Bank of Marin Bancorp by 0.3% during the first quarter. Prudential Financial Inc. now owns 46,272 shares of the bank’s stock valued at $2,978,000 after purchasing an additional 140 shares in the last quarter. Bank of America Corp DE lifted its holdings in Bank of Marin Bancorp by 13.9% during the first quarter. Bank of America Corp DE now owns 1,684 shares of the bank’s stock valued at $108,000 after purchasing an additional 206 shares in the last quarter. American International Group Inc. lifted its holdings in Bank of Marin Bancorp by 7.0% during the first quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock valued at $236,000 after purchasing an additional 240 shares in the last quarter. Context BH Capital Management LP lifted its holdings in Bank of Marin Bancorp by 3.2% during the second quarter. Context BH Capital Management LP now owns 9,720 shares of the bank’s stock valued at $598,000 after purchasing an additional 300 shares in the last quarter. Finally, State Street Corp lifted its holdings in Bank of Marin Bancorp by 0.4% during the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock valued at $6,328,000 after purchasing an additional 396 shares in the last quarter. 42.41% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

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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