Bank of Marin Bancorp (NASDAQ:BMRC) Receives Consensus Rating of “Hold” from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.40.

BMRC has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Zacks Research raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. DA Davidson cut their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. 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 report on Thursday, April 2nd.

Bank of Marin Bancorp Stock Down 0.1%

NASDAQ BMRC traded down $0.02 during trading hours on Friday, hitting $28.45. 107,136 shares of the company traded hands, compared to its average volume of 169,861. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day moving average is $26.42 and its 200-day moving average is $26.19. The stock has a market capitalization of $460.61 million, a price-to-earnings ratio of -14.08 and a beta of 0.81. Bank of Marin Bancorp has a twelve month low of $21.77 and a twelve month high of $30.34.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The company had revenue of $34.14 million for the quarter, compared to analyst estimates of $33.87 million. Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%. Sell-side analysts anticipate that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -49.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Bank of Marin Bancorp by 268.7% in the 3rd 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 during the period. Vanguard Group Inc. boosted its position in Bank of Marin Bancorp by 0.7% during the third quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock worth $20,362,000 after purchasing an additional 5,690 shares during the period. Dimensional Fund Advisors LP boosted its position in Bank of Marin Bancorp by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock worth $20,577,000 after purchasing an additional 32,048 shares during the period. HoldCo Asset Management LP increased its holdings in shares of Bank of Marin Bancorp by 23.8% in the third quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after purchasing an additional 97,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Bank of Marin Bancorp by 1.9% in the first quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock valued at $11,759,000 after purchasing an additional 8,758 shares during the last quarter. 52.26% of the stock is currently 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.