Bank of Marin Bancorp (NASDAQ:BMRC) Receives $30.10 Consensus Price Target from Brokerages

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.10.

BMRC has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on shares of 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. UBS Group set a $30.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. Piper Sandler restated a “neutral” rating and issued a $30.50 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $27.40 on Thursday. Bank of Marin Bancorp has a 1-year low of $19.14 and a 1-year high of $28.48. The business has a fifty day moving average price of $26.82 and a 200-day moving average price of $25.26. The stock has a market capitalization of $440.87 million, a price-to-earnings ratio of -12.18 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, January 26th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of ($35.47) million during the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Thursday, February 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Bank of Marin Bancorp’s dividend payout ratio is currently -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently bought and sold shares of BMRC. Torren Management LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter valued at approximately $31,000. Westmount Partners LLC acquired a new position in Bank of Marin Bancorp during the fourth quarter valued at $2,980,000. SG Americas Securities LLC acquired a new position in Bank of Marin Bancorp during the fourth quarter valued at $115,000. HoldCo Asset Management LP boosted its holdings in Bank of Marin Bancorp by 23.8% in the third quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after purchasing an additional 97,000 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Bank of Marin Bancorp during the 3rd quarter worth about $282,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.