Bank of Marin Bancorp (NASDAQ:BMRC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $29.60.

Several equities research analysts have recently weighed in on BMRC shares. Zacks Research cut Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Stephens reaffirmed an “overweight” rating and issued a $29.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Wall Street Zen cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Piper Sandler reduced their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP grew its holdings in Bank of Marin Bancorp by 23.8% during the 3rd quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock worth $12,247,000 after acquiring an additional 97,000 shares during the last quarter. Westmount Partners LLC bought a new stake in Bank of Marin Bancorp during the 4th quarter worth about $2,980,000. SummerHaven Investment Management LLC bought a new stake in Bank of Marin Bancorp during the 3rd quarter worth about $799,000. Price T Rowe Associates Inc. MD bought a new stake in Bank of Marin Bancorp during the 4th quarter worth about $230,000. Finally, Blair William & Co. IL bought a new stake in Bank of Marin Bancorp during the 4th quarter worth about $204,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

NASDAQ BMRC opened at $26.39 on Tuesday. The company has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $25.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $425.67 million, a price-to-earnings ratio of -11.73 and a beta of 0.84. Bank of Marin Bancorp has a 52-week low of $19.67 and a 52-week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Friday, March 13th. The bank reported $0.59 earnings per share (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 business had revenue of ($39.66) million during the quarter. Equities research analysts predict that Bank of Marin Bancorp will post 2.42 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Bank of Marin Bancorp’s dividend payout ratio (DPR) 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.