Analysts Set Bank of Marin Bancorp (NASDAQ:BMRC) PT at $29.60

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $29.60.

BMRC has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 17th. Zacks Research lowered shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th.

Bank of Marin Bancorp Stock Up 1.0%

Shares of BMRC opened at $26.05 on Tuesday. The firm has a market cap of $420.19 million, a PE ratio of -11.58 and a beta of 0.84. The company’s fifty day moving average is $25.61 and its two-hundred day moving average is $25.96. Bank of Marin Bancorp has a fifty-two week low of $19.74 and a fifty-two week high of $28.48. 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 (NASDAQ:BMRC) last announced its quarterly earnings results on Friday, March 13th. The bank reported $0.59 earnings per share for the quarter. The company had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. Analysts forecast that Bank of Marin Bancorp will post 2.42 earnings per share for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds have recently made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp during the 4th quarter valued at $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Bank of Marin Bancorp by 2,543.8% during 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Bank of Marin Bancorp by 33.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after acquiring an additional 379 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Bank of Marin Bancorp by 88.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,356 shares in the last quarter. Institutional investors and hedge funds 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.