Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Cut to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $25.00 to $21.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 34.96% from the stock’s previous close.

BMRC has been the subject of several other reports. Stephens reduced their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. DA Davidson reduced their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $15.56 on Friday. The firm has a 50 day simple moving average of $15.98 and a 200-day simple moving average of $18.24. The stock has a market capitalization of $253.58 million, a PE ratio of 18.75 and a beta of 0.88. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.10). The company had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts forecast that Bank of Marin Bancorp will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Bank of Marin Bancorp

Several large investors have recently added to or reduced their stakes in BMRC. SG Americas Securities LLC purchased a new position in shares of Bank of Marin Bancorp during the third quarter valued at $130,000. Rosenthal Henry Capital Advisors Inc. boosted its position in Bank of Marin Bancorp by 135.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after acquiring an additional 25,000 shares during the period. Barclays PLC grew its stake in Bank of Marin Bancorp by 7.7% during the 3rd quarter. Barclays PLC now owns 23,605 shares of the bank’s stock valued at $432,000 after acquiring an additional 1,683 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Bank of Marin Bancorp by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock valued at $1,385,000 after purchasing an additional 1,879 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new position in shares of Bank of Marin Bancorp in the third quarter worth $1,005,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.