Bank of Marin Bancorp (NASDAQ:BMRC) Rating Lowered to Sell at Wall Street Zen

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $30.00 price target (up from $27.00) on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Finally, Stephens restated an “overweight” rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.10.

Bank of Marin Bancorp Trading Up 0.8%

BMRC opened at $26.85 on Friday. Bank of Marin Bancorp has a 12-month low of $19.14 and a 12-month high of $28.48. The firm has a 50 day moving average of $26.79 and a two-hundred day moving average of $25.18. The firm has a market capitalization of $432.02 million, a PE ratio of -11.93 and a beta of 0.86.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, January 26th. The bank reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. The firm had revenue of ($35.47) million for the quarter, compared to analyst estimates of $32.96 million. As a group, analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of BMRC. AQR Capital Management LLC grew its position in Bank of Marin Bancorp by 43.4% in the first quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock worth $877,000 after acquiring an additional 12,019 shares during the period. Jones Financial Companies Lllp lifted its holdings in Bank of Marin Bancorp by 4,337.9% during the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock worth $186,000 after buying an additional 8,242 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Bank of Marin Bancorp by 8.3% in the first quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bank of Marin Bancorp in the 1st quarter valued at about $441,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $69,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.