Zacks Investment Research downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a strong-buy rating to a hold rating in a report published on Thursday morning.

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

Several other brokerages have also recently issued reports on BMRC. DA Davidson reiterated a hold rating and set a $72.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $68.00 price target on shares of Bank of Marin Bancorp and gave the company a hold rating in a research report on Sunday, July 30th. BidaskClub cut shares of Bank of Marin Bancorp from a buy rating to a hold rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $68.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Bank of Marin Bancorp has an average rating of Hold and a consensus target price of $71.80.

Shares of Bank of Marin Bancorp (BMRC) traded up 0.63% during mid-day trading on Thursday, reaching $71.65. The company’s stock had a trading volume of 14,534 shares. Bank of Marin Bancorp has a 12 month low of $49.70 and a 12 month high of $75.05. The firm has a market cap of $437.78 million, a price-to-earnings ratio of 19.70 and a beta of 0.88. The company’s 50-day moving average is $68.25 and its 200 day moving average is $64.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.94%. The firm had revenue of $20.85 million for the quarter, compared to analysts’ expectations of $20.71 million. On average, equities analysts anticipate that Bank of Marin Bancorp will post $3.25 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This report was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/10/29/bank-of-marin-bancorp-bmrc-downgraded-by-zacks-investment-research.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, November 3rd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, November 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 34.73%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of 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 buying an additional 206 shares during the period. Aperio Group LLC purchased a new position in shares of Bank of Marin Bancorp during the third quarter valued at about $205,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of Bank of Marin Bancorp by 42.3% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,273 shares of the bank’s stock valued at $210,000 after buying an additional 973 shares during the period. American International Group Inc. increased its position in shares of 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 buying an additional 240 shares during the period. Finally, First Quadrant L P CA purchased a new position in shares of Bank of Marin Bancorp during the second quarter valued at about $282,000. Institutional investors own 42.39% of the company’s stock.

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.

Get a free copy of the Zacks research report on Bank of Marin Bancorp (BMRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related stocks with our FREE daily email newsletter.