Bank of Marin Bancorp (NASDAQ:BMRC) Receives Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a research report report published on Thursday morning,Benzinga reports. Stephens currently has a $30.00 price objective on the bank’s stock.

A number of other research analysts also recently weighed in on the stock. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased 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. Finally, StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th.

Bank of Marin Bancorp Price Performance

BMRC stock opened at $23.51 on Thursday. The stock has a market capitalization of $378.11 million, a P/E ratio of -27.34 and a beta of 0.93. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The business has a fifty day moving average price of $24.56 and a 200-day moving average price of $21.20.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period last year, the company earned $0.33 EPS. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. Quantbot Technologies LP bought a new stake in shares of Bank of Marin Bancorp during the 3rd quarter valued at $74,000. SG Americas Securities LLC purchased a new position in Bank of Marin Bancorp during the third quarter valued at $122,000. XTX Topco Ltd bought a new stake in Bank of Marin Bancorp during the second quarter valued at about $168,000. Hsbc Holdings PLC increased its position in Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after buying an additional 2,131 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock worth $231,000 after buying an additional 2,700 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.