Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bank of Marin Bancorp (NASDAQ:BMRC) Stock

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) had its target price hoisted by equities researchers at Keefe, Bruyette & Woods from $31.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 8.24% from the stock’s previous close.

Several other research analysts have also recently weighed in on BMRC. Piper Sandler reissued a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday. Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Brean Capital lowered Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Tuesday, July 28th. Finally, Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

View Our Latest Stock Report on BMRC

Bank of Marin Bancorp Stock Performance

Shares of BMRC traded up $0.27 during trading hours on Tuesday, hitting $29.57. The company had a trading volume of 8,565 shares, compared to its average volume of 120,262. The firm has a market cap of $478.66 million, a price-to-earnings ratio of -32.35 and a beta of 0.79. The business has a fifty day moving average of $27.37 and a 200-day moving average of $26.48. Bank of Marin Bancorp has a 12 month low of $21.77 and a 12 month high of $30.92. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last posted its earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $33.95 million during the quarter, compared to analysts’ expectations of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.44%. Equities analysts anticipate that Bank of Marin Bancorp will post 2.31 EPS for the current fiscal year.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. boosted its stake in shares of Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after buying an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after buying an additional 379 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after acquiring an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Bank of Marin Bancorp by 88.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after acquiring an additional 1,356 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

(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.

Further Reading

Analyst Recommendations for Bank of Marin Bancorp (NASDAQ:BMRC)

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