Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Lowered to $16.00 at Stephens

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price lowered by Stephens from $19.00 to $16.00 in a report issued on Tuesday morning, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

Separately, DA Davidson reduced their price objective on shares of Bank of Marin Bancorp from $23.00 to $21.00 and set a neutral rating for the company in a research report on Tuesday, January 30th.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $14.36 on Tuesday. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24. The stock has a market cap of $234.07 million, a price-to-earnings ratio of 11.58 and a beta of 0.85. The firm’s 50-day moving average is $16.10 and its 200-day moving average is $18.30.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. The business had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the prior year, the company earned $0.59 EPS. Sell-side analysts predict that Bank of Marin Bancorp will post 1.23 EPS 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, May 16th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 80.65%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after buying an additional 1,832 shares during the period. SG Americas Securities LLC bought a new position in Bank of Marin Bancorp during the third quarter worth about $130,000. Bridge City Capital LLC raised its stake in Bank of Marin Bancorp by 17.9% in the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after purchasing an additional 1,747 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in Bank of Marin Bancorp in the 4th quarter valued at about $355,000. Finally, BNP Paribas Financial Markets grew its position in shares of Bank of Marin Bancorp by 38.6% during the 4th quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock worth $377,000 after purchasing an additional 4,762 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

About Bank of Marin Bancorp

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.