DA Davidson Trims Bank of Marin Bancorp (NASDAQ:BMRC) Target Price to $15.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price reduced by investment analysts at DA Davidson from $17.00 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 4.31% from the company’s current price.

Separately, Stephens lowered their target price on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC traded down $0.06 during trading hours on Tuesday, reaching $14.38. 38,273 shares of the stock were exchanged, compared to its average volume of 64,478. The firm has a market capitalization of $234.39 million, a price-to-earnings ratio of 11.52 and a beta of 0.85. The stock’s fifty day simple moving average is $16.16 and its 200 day simple moving average is $18.33. Bank of Marin Bancorp has a 52 week low of $12.89 and a 52 week high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. The firm had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. During the same period in the prior year, the company earned $0.59 earnings per share. Research analysts predict that Bank of Marin Bancorp will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,832 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth $130,000. Bridge City Capital LLC boosted its stake in Bank of Marin Bancorp by 17.9% in the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after buying an additional 1,747 shares in the last quarter. Wealthspire Advisors LLC acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at about $355,000. Finally, BNP Paribas Financial Markets grew its position in Bank of Marin Bancorp by 38.6% in the fourth quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock valued at $377,000 after acquiring an additional 4,762 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.