Bank of Marin Bancorp (NASDAQ:BMRC) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research analysts also recently weighed in on BMRC. UBS Group set a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. DA Davidson boosted their target price on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Bank of Marin Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $28.40.

Bank of Marin Bancorp Price Performance

Shares of Bank of Marin Bancorp stock opened at $27.02 on Friday. The firm has a market cap of $434.89 million, a PE ratio of 43.58 and a beta of 0.92. Bank of Marin Bancorp has a 1 year low of $19.14 and a 1 year high of $27.33. The stock has a fifty day moving average price of $24.99 and a 200-day moving average price of $23.86.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, March 7th. The bank reported $0.61 earnings per share for the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.27%. The company had revenue of $31.32 million during the quarter. As a group, equities analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Bank of Marin Bancorp’s dividend payout ratio is 161.29%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in shares of Bank of Marin Bancorp by 29.7% in the first quarter. CWM LLC now owns 2,753 shares of the bank’s stock valued at $61,000 after acquiring an additional 630 shares during the period. XTX Topco Ltd bought a new position in Bank of Marin Bancorp in the 1st quarter valued at $392,000. Wealthspire Advisors LLC grew its position in shares of Bank of Marin Bancorp by 7.5% during the 1st quarter. Wealthspire Advisors LLC now owns 22,056 shares of the bank’s stock valued at $487,000 after purchasing an additional 1,531 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Bank of Marin Bancorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 836,427 shares of the bank’s stock worth $18,460,000 after purchasing an additional 10,250 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Bank of Marin Bancorp by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock worth $2,686,000 after buying an additional 954 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.