StockNews.com Downgrades Bank of Marin Bancorp (NASDAQ:BMRC) to Sell

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Other equities research analysts also recently issued reports about the company. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock opened at $26.15 on Monday. The firm has a market cap of $425.72 million, a PE ratio of -30.60 and a beta of 0.90. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $26.67. The company has a 50-day moving average of $21.39 and a two-hundred day moving average of $18.74.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The firm had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the previous year, the firm posted $0.33 EPS. Sell-side analysts anticipate that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in BMRC. CWM LLC increased its position in shares of Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,096 shares during the last quarter. Riverview Trust Co increased its position in shares of Bank of Marin Bancorp by 105.5% in the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,001 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Bank of Marin Bancorp in the 3rd quarter worth about $122,000. XTX Topco Ltd purchased a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth about $168,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Bank of Marin Bancorp in the 1st quarter worth about $202,000. 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.