Bank of Marin Bancorp (NASDAQ:BMRC) Receives Average Rating of “Moderate Buy” from Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $30.10.

A number of brokerages have issued reports on BMRC. Piper Sandler reaffirmed a “neutral” rating and issued a $30.50 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Stephens restated an “overweight” rating and issued a $29.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Torren Management LLC bought a new stake in Bank of Marin Bancorp in the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. increased its position in shares of Bank of Marin Bancorp by 2,543.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after buying an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after buying an additional 379 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after acquiring an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 5.8%

Shares of BMRC stock opened at $24.89 on Monday. The firm has a market cap of $400.48 million, a price-to-earnings ratio of -11.06 and a beta of 0.89. Bank of Marin Bancorp has a 12 month low of $19.14 and a 12 month high of $28.48. The stock has a 50-day moving average price of $26.67 and a 200 day moving average price of $25.69.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. The company had revenue of ($35.47) million for the quarter, compared to analyst estimates of $32.96 million. Sell-side analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. Bank of Marin Bancorp’s dividend payout ratio is -44.44%.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.