Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded by Stephens to Overweight Rating

Stephens upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from an equal weight rating to an overweight rating in a report issued on Monday morning, MarketBeat reports.

Several other brokerages have also commented on BMRC. Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, October 10th. Finally, StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th.

Bank of Marin Bancorp Price Performance

Shares of BMRC opened at $24.48 on Monday. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The stock has a fifty day moving average price of $23.49 and a 200 day moving average price of $20.15. The company has a market cap of $393.64 million, a P/E ratio of -28.46 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, research analysts anticipate that Bank of Marin Bancorp will post 0.9 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, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares in the last quarter. State Street Corp boosted its stake in Bank of Marin Bancorp by 0.9% during the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after buying an additional 3,073 shares in the last quarter. Geode Capital Management LLC grew its holdings in Bank of Marin Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares during the period. Basswood Capital Management L.L.C. acquired a new position in Bank of Marin Bancorp during the third quarter worth about $3,411,000. Finally, Renaissance Technologies LLC raised its position in Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock worth $2,432,000 after acquiring an additional 34,200 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

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.