Shares of Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $31.50.
Several brokerages have commented on BMRC. Brean Capital lowered shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 28th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the company an “equal weight” rating in a research note on Wednesday, July 29th.
Bank of Marin Bancorp Price Performance
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. As a group, equities analysts expect that Bank of Marin Bancorp will post 2.31 earnings per share for the current year.
Bank of Marin Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is currently -109.89%.
Hedge Funds Weigh In On Bank of Marin Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its stake in shares of Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings 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 purchasing an additional 379 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth $43,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares during the period. Institutional investors own 52.26% of the company’s stock.
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.
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