Bank of Marin Bancorp (NASDAQ:BMRC) Stock Now Rated “Hold” by Sell-Side Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.20.

BMRC has been the topic of several research reports. Brean Capital lowered Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, July 28th. DA Davidson reaffirmed a “buy” rating and set a $34.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, October 27th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of Bank of Marin Bancorp in a report on Thursday, October 1st. Stephens boosted their target price on Bank of Marin Bancorp from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Finally, Weiss Ratings raised shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday.

Bank of Marin Bancorp Trading Down 0.5%

NASDAQ BMRC opened at $28.44 on Friday. The stock has a market capitalization of $460.44 million, a price-to-earnings ratio of -37.42 and a beta of 0.83. Bank of Marin Bancorp has a one year low of $23.35 and a one year high of $30.92. The business’s fifty day moving average is $27.55 and its 200-day moving average is $26.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 26th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Bank of Marin Bancorp had a negative net margin of 6.48% and a positive return on equity of 9.38%. The business had revenue of $35.07 million for the quarter, compared to the consensus estimate of $35.11 million. Equities research analysts predict that Bank of Marin Bancorp will post 2.33 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Thursday, November 5th. Bank of Marin Bancorp’s dividend payout ratio is -131.58%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in Bank of Marin Bancorp in the 2nd quarter worth about $43,000. Allworth Financial LP bought a new position in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $87,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth $266,000. Lodestar Private Asset Management LLC grew its holdings in shares of Bank of Marin Bancorp by 8.4% during the third quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock worth $298,000 after purchasing an additional 849 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Bank of Marin Bancorp in the 2nd quarter worth $380,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.