Bank of Marin Bancorp (NASDAQ:BMRC) Given “Overweight” Rating at Stephens

Stephens reaffirmed their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a research note published on Tuesday,Benzinga reports. Stephens currently has a $26.00 price target on the bank’s stock.

Separately, StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Bank of Marin Bancorp Stock Up 0.1 %

Shares of NASDAQ BMRC opened at $21.00 on Tuesday. The firm has a market capitalization of $340.26 million, a P/E ratio of -40.38 and a beta of 0.84. The stock’s 50-day simple moving average is $21.95 and its two-hundred day simple moving average is $23.41. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, April 28th. The bank reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $35.24 million for the quarter, compared to the consensus estimate of $27.99 million. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. As a group, research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.00 annualized dividend and a yield of 4.76%. Bank of Marin Bancorp’s payout ratio is -192.31%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Bank of Marin Bancorp by 46.1% during the 3rd quarter. Barclays PLC now owns 45,370 shares of the bank’s stock valued at $911,000 after buying an additional 14,306 shares during the last quarter. Geode Capital Management LLC raised its position in Bank of Marin Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock valued at $7,282,000 after purchasing an additional 6,555 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Bank of Marin Bancorp by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after buying an additional 2,469 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at approximately $214,000. Finally, SG Americas Securities LLC raised its holdings in shares of Bank of Marin Bancorp by 7.1% during the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock valued at $155,000 after acquiring an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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 small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.