Bank of Marin Bancorp (NASDAQ:BMRC) Receives $28.40 Consensus Price Target from Analysts

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

A number of research analysts have weighed in on BMRC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $30.00 price target (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 objective on Bank of Marin Bancorp in a research note on Wednesday, October 29th. Wall Street Zen upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, DA Davidson lifted their price target on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th.

Bank of Marin Bancorp Stock Down 0.2%

Bank of Marin Bancorp stock opened at $25.80 on Friday. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48. The firm has a market capitalization of $415.12 million, a price-to-earnings ratio of 41.61 and a beta of 0.86. The company has a fifty day simple moving average of $26.54 and a 200-day simple moving average of $25.03.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 27th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $30.94 million for the quarter, compared to the consensus estimate of $30.92 million. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. On average, research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Bank of Marin Bancorp’s payout ratio is 161.29%.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 43.4% during the 1st quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock valued at $877,000 after buying an additional 12,019 shares during the period. Jones Financial Companies Lllp raised its position in Bank of Marin Bancorp by 4,337.9% in the first quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after purchasing an additional 8,242 shares during the period. Empowered Funds LLC lifted its stake in shares of Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after purchasing an additional 1,981 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bank of Marin Bancorp during the 1st quarter worth $441,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth about $209,000. 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.