Stephens Reaffirms Equal Weight Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “equal weight” rating reiterated by equities research analysts at Stephens in a report released on Tuesday. They presently have a $26.00 price target on the bank’s stock. Stephens’ price target suggests a potential upside of 0.15% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 17th. Piper Sandler lowered their price target on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Zacks Research lowered Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods lowered their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.40.

Bank of Marin Bancorp Stock Up 0.7%

Shares of NASDAQ:BMRC traded up $0.18 during midday trading on Tuesday, reaching $25.96. The company’s stock had a trading volume of 23,161 shares, compared to its average volume of 106,139. The firm has a 50 day moving average of $25.47 and a 200-day moving average of $26.05. The firm has a market capitalization of $420.29 million, a P/E ratio of -12.87 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12-month low of $20.25 and a 12-month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The business had revenue of $34.14 million during the quarter, compared to analysts’ expectations of $33.87 million. Bank of Marin Bancorp had a positive return on equity of 7.07% and a negative net margin of 18.58%. On average, research analysts anticipate that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its position in 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 worth $39,000 after buying an additional 379 shares during the last quarter. Quadrant Capital Group LLC raised its position in Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after buying an additional 407 shares during the last quarter. State of Wyoming raised its position in Bank of Marin Bancorp by 2.8% in the 4th quarter. State of Wyoming now owns 15,885 shares of the bank’s stock worth $413,000 after buying an additional 433 shares during the last quarter. First Trust Advisors LP raised its position in Bank of Marin Bancorp by 7.1% in the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after buying an additional 696 shares during the last quarter. Finally, Westmount Partners LLC raised its position in Bank of Marin Bancorp by 0.8% in the 1st quarter. Westmount Partners LLC now owns 115,484 shares of the bank’s stock worth $2,960,000 after buying an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.