Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC – Free Report) from a sell rating to a hold rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $30.00 price objective (up from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 15th. Finally, DA Davidson boosted their price target on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Bank of Marin Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.40.

View Our Latest Report on Bank of Marin Bancorp

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC opened at $26.93 on Friday. The stock has a market capitalization of $433.30 million, a price-to-earnings ratio of 43.44 and a beta of 0.85. Bank of Marin Bancorp has a 12 month low of $19.14 and a 12 month high of $28.48. The firm’s 50 day simple moving average is $26.01 and its 200-day simple moving average is $24.58.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last announced its quarterly earnings results on Monday, March 7th. The bank reported $0.61 earnings per share (EPS) for the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. The firm had revenue of $31.32 million for the quarter. Analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, November 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 161.29%.

Institutional Trading of Bank of Marin Bancorp

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted 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 worth $22,909,000 after purchasing an additional 687,615 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 787,584 shares of the bank’s stock valued at $19,123,000 after buying an additional 14,089 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Bank of Marin Bancorp by 7.0% in the 1st quarter. Alliancebernstein L.P. now owns 701,534 shares of the bank’s stock valued at $15,483,000 after buying an additional 46,020 shares in the last quarter. Finally, HoldCo Asset Management LP increased its stake in shares of Bank of Marin Bancorp by 23.8% in 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. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

(Get Free Report)

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.

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