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

Bank of Marin Bancorp (NASDAQ:BMRC) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two 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 1 year price objective among brokers that have covered the stock in the last year is $30.10.

Several equities research analysts have weighed in on BMRC shares. Wall Street Zen downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Piper Sandler restated a “neutral” rating and set a $30.50 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Weiss Ratings reiterated 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 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock opened at $25.19 on Monday. The stock’s 50-day moving average is $26.57 and its 200 day moving average is $25.71. Bank of Marin Bancorp has a 1-year low of $19.14 and a 1-year high of $28.48. The company has a market cap of $405.31 million, a P/E ratio of -11.20 and a beta of 0.89.

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 the consensus estimate 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 business had revenue of ($35.47) million during the quarter, compared to analyst estimates of $32.96 million. On average, analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at about $31,000. Russell Investments Group Ltd. boosted its position in 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 worth $31,000 after purchasing an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake 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 worth $39,000 after purchasing an additional 379 shares during the period. Tower Research Capital LLC TRC increased 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 purchasing an additional 1,040 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Bank of Marin Bancorp by 88.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,356 shares during the period. 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.