Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given a consensus rating of “Hold” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $43.50.
A number of equities analysts recently issued reports on BMRC shares. BidaskClub upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Zacks Investment Research lowered Bank of Marin Bancorp from a “buy” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, DA Davidson restated a “neutral” rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd.
In other Bank of Marin Bancorp news, CEO Russell A. Colombo sold 2,553 shares of Bank of Marin Bancorp stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $42.10, for a total transaction of $107,481.30. Following the completion of the transaction, the chief executive officer now owns 65,409 shares in the company, valued at approximately $2,753,718.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Pelham sold 2,818 shares of Bank of Marin Bancorp stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $41.93, for a total value of $118,158.74. Following the transaction, the insider now owns 16,981 shares of the company’s stock, valued at approximately $712,013.33. The disclosure for this sale can be found here. Insiders have sold a total of 5,995 shares of company stock valued at $251,505 in the last quarter. Company insiders own 5.29% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Bank of Marin Bancorp by 115.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 437,482 shares of the bank’s stock valued at $18,041,000 after buying an additional 234,328 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter valued at about $205,000. Freestone Capital Holdings LLC grew its position in shares of Bank of Marin Bancorp by 100.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 26,328 shares of the bank’s stock valued at $1,086,000 after acquiring an additional 13,164 shares during the period. Financial Advocates Investment Management grew its position in shares of Bank of Marin Bancorp by 825.8% during the 4th quarter. Financial Advocates Investment Management now owns 8,536 shares of the bank’s stock valued at $255,000 after acquiring an additional 7,614 shares during the period. Finally, Meridian Investment Counsel Inc. grew its position in shares of Bank of Marin Bancorp by 87.5% during the 4th quarter. Meridian Investment Counsel Inc. now owns 6,000 shares of the bank’s stock valued at $247,000 after acquiring an additional 2,800 shares during the period. Institutional investors and hedge funds own 42.67% of the company’s stock.
BMRC stock traded up $0.51 during midday trading on Friday, reaching $41.76. The stock had a trading volume of 5 shares, compared to its average volume of 31,809. The firm has a market capitalization of $571.92 million, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. Bank of Marin Bancorp has a 52-week low of $38.00 and a 52-week high of $45.42.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, April 22nd. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.11). The firm had revenue of $25.62 million during the quarter, compared to analysts’ expectations of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.79% and a net margin of 31.44%. As a group, equities research analysts expect that Bank of Marin Bancorp will post 2.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.82%. Bank of Marin Bancorp’s payout ratio is currently 32.62%.
About Bank of Marin Bancorp
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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