Bank of Marin Bancorp (NASDAQ:BMRC) Stock Has Average Target Price of $31.33

Bank of Marin Bancorp (NASDAQ:BMRC) has earned an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $31.33.

BMRC has been the subject of a number of recent research reports. DA Davidson set a $34.00 price objective on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Brean Capital downgraded Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Tuesday, July 28th. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Piper Sandler reiterated a “neutral” rating and set a $29.00 target price (down from $30.00) on shares of Bank of Marin Bancorp in a report on Thursday, October 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bank of Marin Bancorp in a research report on Friday, September 25th.

Bank of Marin Bancorp Price Performance

NASDAQ BMRC opened at $26.71 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12-month low of $22.50 and a 12-month high of $30.92. The company has a market capitalization of $432.43 million, a PE ratio of -29.35 and a beta of 0.82. The firm’s 50 day moving average is $27.61 and its 200-day moving average is $27.04.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. The business had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.02 million. Equities research analysts anticipate that Bank of Marin Bancorp will post 2.28 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. Bank of Marin Bancorp’s payout ratio is -109.89%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Westmount Partners LLC raised its stake in shares of Bank of Marin Bancorp by 0.8% during the 1st quarter. Westmount Partners LLC now owns 115,484 shares of the bank’s stock worth $2,960,000 after purchasing an additional 925 shares in the last quarter. Lodestar Private Asset Management LLC boosted its holdings in shares of Bank of Marin Bancorp by 10.0% in the 1st quarter. Lodestar Private Asset Management LLC now owns 10,156 shares of the bank’s stock valued at $260,000 after buying an additional 925 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Bank of Marin Bancorp in the second quarter valued at $43,000. Allworth Financial LP bought a new position in shares of Bank of Marin Bancorp in the second quarter valued at $87,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Bank of Marin Bancorp by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 77,699 shares of the bank’s stock valued at $1,991,000 after buying an additional 5,154 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is a bank holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals and businesses through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, business loans, lines of credit, construction financing and consumer loans. Bank of Marin also offers cash-management services, treasury management, online and mobile banking, and wealth management services through its affiliated or partnered offerings.

Founded in 1990, Bank of Marin has historically focused on relationship-based banking for customers in the North Bay and surrounding Northern California communities, including Marin, Napa and Sonoma counties and parts of the greater San Francisco Bay Area.