Analysts Set Bank of Marin Bancorp (NASDAQ:BMRC) PT at $28.40

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.40.

Several brokerages have weighed in on BMRC. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $30.00 target price (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. UBS Group set a $30.00 price target on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, DA Davidson boosted their price target on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its position in Bank of Marin Bancorp by 7.1% in the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after buying an additional 696 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $43,000 after acquiring an additional 1,040 shares during the last quarter. CWM LLC lifted its position in Bank of Marin Bancorp by 41.5% during the second quarter. CWM LLC now owns 3,895 shares of the bank’s stock valued at $89,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 1,221 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $27.15 on Wednesday. The firm has a market cap of $436.84 million, a price-to-earnings ratio of 43.79 and a beta of 0.85. The firm has a 50 day moving average price of $25.93 and a 200-day moving average price of $24.50. Bank of Marin Bancorp has a fifty-two week low of $19.14 and a fifty-two week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, March 7th. The bank reported $0.61 earnings per share (EPS) for the quarter. The firm had revenue of $31.32 million for the quarter. Bank of Marin Bancorp had a return on equity of 5.25% and a net margin of 6.22%. As a group, equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

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

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.