Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Bank of Marin Bancorp from a buy rating to a hold rating in a research report on Tuesday, December 31st. ValuEngine raised Bank of Marin Bancorp from a strong sell rating to a sell rating in a research report on Monday, December 30th.
Shares of NASDAQ BMRC traded up $0.07 during trading hours on Thursday, hitting $44.15. 34,174 shares of the company traded hands, compared to its average volume of 28,448. The stock has a market capitalization of $599.24 million, a price-to-earnings ratio of 17.52 and a beta of 0.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $45.12 and its 200 day moving average price is $43.33. Bank of Marin Bancorp has a 12 month low of $38.74 and a 12 month high of $47.77.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 21st. The bank reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.08. The firm had revenue of $26.87 million for the quarter, compared to the consensus estimate of $26.19 million. Bank of Marin Bancorp had a return on equity of 10.73% and a net margin of 31.54%. Equities analysts anticipate that Bank of Marin Bancorp will post 2.44 EPS for the current year.
In other Bank of Marin Bancorp news, EVP Robert Gotelli sold 570 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $45.44, for a total value of $25,900.80. Following the transaction, the executive vice president now owns 12,979 shares of the company’s stock, valued at approximately $589,765.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norma J. Howard sold 1,430 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $45.93, for a total value of $65,679.90. In the last three months, insiders have sold 15,514 shares of company stock worth $697,980. Corporate insiders own 5.29% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BMRC. Tower Research Capital LLC TRC grew its position in Bank of Marin Bancorp by 648.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,460 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,265 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Bank of Marin Bancorp during the 1st quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth $80,000. Bank of Montreal Can lifted its stake in shares of Bank of Marin Bancorp by 31.8% during the 2nd quarter. Bank of Montreal Can now owns 5,274 shares of the bank’s stock worth $217,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Bank of Marin Bancorp by 50.1% during the 3rd quarter. Squarepoint Ops LLC now owns 7,686 shares of the bank’s stock worth $319,000 after purchasing an additional 2,565 shares during the last quarter. 44.30% of the stock is currently owned by institutional investors.
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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