Brokerages Set Bank of Marin Bancorp (NASDAQ:BMRC) Price Target at $30.10

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.10.

BMRC has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Piper Sandler reiterated a “neutral” rating and set a $30.50 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Wall Street Zen downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research cut Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. 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.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $31,000. Russell Investments Group Ltd. grew its position in 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 worth $31,000 after purchasing an additional 1,221 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after purchasing an additional 379 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after buying an additional 1,356 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $25.31 on Friday. The firm has a 50 day simple moving average of $25.93 and a 200-day simple moving average of $25.75. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $408.15 million, a PE ratio of -11.25 and a beta of 0.89.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. The firm had revenue of ($39.66) million for the quarter. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, February 5th. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

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.