Bank of Marin Bancorp (NASDAQ:BMRC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $29.60.

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research cut shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, Stephens restated an “overweight” rating and set a $29.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. HoldCo Asset Management LP grew its position 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 valued at $12,247,000 after purchasing an additional 97,000 shares during the period. Westmount Partners LLC acquired a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at approximately $2,980,000. SummerHaven Investment Management LLC acquired a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at approximately $799,000. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at approximately $115,000. Finally, Lodestar Private Asset Management LLC acquired a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at approximately $224,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock opened at $26.39 on Tuesday. The stock has a 50-day moving average price of $25.70 and a 200 day moving average price of $25.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The firm has a market cap of $425.67 million, a price-to-earnings ratio of -11.73 and a beta of 0.84. Bank of Marin Bancorp has a 12 month low of $19.67 and a 12 month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The firm had revenue of ($39.66) million during the quarter. Bank of Marin Bancorp had a positive return on equity of 6.16% and a negative net margin of 21.76%. Research analysts expect that Bank of Marin Bancorp will post 2.42 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were given a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. Bank of Marin Bancorp’s payout ratio is currently -44.44%.

Bank of Marin Bancorp Company Profile

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.