Bank of Marin Bancorp (NASDAQ:BMRC) PT Lowered to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price lowered by stock analysts at Keefe, Bruyette & Woods from $25.00 to $21.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 37.17% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. DA Davidson cut their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday. Stephens cut their price objective on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday.

Bank of Marin Bancorp Trading Up 0.8 %

BMRC traded up $0.12 during trading on Friday, reaching $15.31. 29,923 shares of the company’s stock were exchanged, compared to its average volume of 65,853. The firm has a fifty day moving average price of $16.01 and a two-hundred day moving average price of $18.26. Bank of Marin Bancorp has a one year low of $12.89 and a one year high of $23.24. The stock has a market capitalization of $249.55 million, a PE ratio of 18.30 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. The firm had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same quarter in the previous year, the business earned $0.59 EPS. Sell-side analysts expect that Bank of Marin Bancorp will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

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

About Bank of Marin Bancorp

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.