Bank of Marin Bancorp (NASDAQ:BMRC) Stock Has Consensus Target Price of $31.50 According to Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.50.

Several research analysts recently issued reports on BMRC shares. DA Davidson set a $34.00 target price on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Brean Capital lowered shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Tuesday, July 28th. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Stephens set a $30.00 price target on shares of Bank of Marin Bancorp and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $30.00 price objective (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday, July 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BMRC. State of Wyoming increased its position in Bank of Marin Bancorp by 2.8% in the fourth quarter. State of Wyoming now owns 15,885 shares of the bank’s stock worth $413,000 after buying an additional 433 shares in the last quarter. Westmount Partners LLC raised its position in shares of Bank of Marin Bancorp by 0.8% during the first quarter. Westmount Partners LLC now owns 115,484 shares of the bank’s stock valued at $2,960,000 after buying an additional 925 shares during the last quarter. Lodestar Private Asset Management LLC increased its holdings in Bank of Marin Bancorp by 10.0% in the 1st quarter. Lodestar Private Asset Management LLC now owns 10,156 shares of the bank’s stock valued at $260,000 after acquiring an additional 925 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Bank of Marin Bancorp in the second quarter worth about $43,000. Finally, Allworth Financial LP purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $87,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Up 0.7%

Bank of Marin Bancorp stock opened at $27.78 on Friday. The stock has a market cap of $449.76 million, a P/E ratio of -30.53 and a beta of 0.78. Bank of Marin Bancorp has a fifty-two week low of $22.50 and a fifty-two week high of $30.92. The firm’s fifty day moving average price is $28.01 and its 200-day moving average price is $26.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The company had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Equities research analysts forecast that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is -109.89%.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.

Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.