Bank of Marin Bancorp (NASDAQ:BMRC) Raised to Hold at Zacks Research

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. DA Davidson decreased their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Stephens reiterated an “equal weight” rating and set a $26.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Piper Sandler reduced their price target 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.40.

Bank of Marin Bancorp Stock Performance

BMRC opened at $27.71 on Monday. The company’s 50 day moving average is $26.00 and its 200 day moving average is $26.14. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The company has a market cap of $448.71 million, a price-to-earnings ratio of -13.72 and a beta of 0.82. Bank of Marin Bancorp has a 12-month low of $21.77 and a 12-month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The business had revenue of $34.14 million for the quarter, compared to analysts’ expectations of $33.87 million. On average, equities research analysts predict that Bank of Marin Bancorp will post 2.21 EPS for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Bank of Marin Bancorp by 268.7% in the third quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after acquiring an additional 687,615 shares in the last quarter. Heartland Advisors Inc. bought a new stake in Bank of Marin Bancorp during the 4th quarter valued at approximately $5,191,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in Bank of Marin Bancorp by 85.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after purchasing an additional 125,816 shares in the last quarter. Westmount Partners LLC purchased a new position in shares of Bank of Marin Bancorp in the fourth quarter worth $2,980,000. Finally, UBS Group AG lifted its holdings in shares of Bank of Marin Bancorp by 143.9% in the third quarter. UBS Group AG now owns 166,615 shares of the bank’s stock worth $4,045,000 after buying an additional 98,311 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

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.