Stephens Reaffirms “Overweight” Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “overweight” rating reiterated by Stephens in a report issued on Thursday,Benzinga reports. They presently have a $30.00 price objective on the bank’s stock. Stephens’ price target suggests a potential upside of 27.55% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 10th.

Bank of Marin Bancorp Trading Up 0.0 %

Shares of BMRC stock opened at $23.52 on Thursday. The stock has a market cap of $378.27 million, a P/E ratio of -27.35 and a beta of 0.93. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The company has a 50 day simple moving average of $24.59 and a two-hundred day simple moving average of $21.26.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The company had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Choreo LLC bought a new position in shares of Bank of Marin Bancorp during the second quarter valued at approximately $426,000. AQR Capital Management LLC purchased a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at approximately $709,000. Acadian Asset Management LLC boosted its stake in Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after purchasing an additional 50,874 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bank of Marin Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after buying an additional 6,555 shares during the period. Finally, State Street Corp grew its stake in Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after purchasing an additional 3,073 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

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.