Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research report sent to investors on Monday.

Several other equities research analysts also recently issued reports on BMRC. Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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 research report on Thursday, October 10th.

Bank of Marin Bancorp Stock Up 1.4 %

BMRC stock opened at $26.57 on Monday. The firm has a market cap of $427.33 million, a PE ratio of -30.47 and a beta of 0.90. The business has a 50 day moving average of $21.59 and a 200-day moving average of $18.87. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $26.94.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its 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. The company had revenue of $39.21 million during the quarter, compared to analyst estimates 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 in the prior year, the company posted $0.33 earnings per share. On average, research analysts expect that Bank of Marin Bancorp will post 0.88 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 given a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.76%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in Bank of Marin Bancorp during the third quarter valued at $74,000. Charles Schwab Investment Management Inc. boosted its stake in Bank of Marin Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after buying an additional 2,842 shares during the period. Empowered Funds LLC boosted its stake in Bank of Marin Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after buying an additional 1,072 shares during the period. Creative Planning bought a new stake in Bank of Marin Bancorp during the third quarter valued at $361,000. Finally, Exchange Traded Concepts LLC bought a new stake in Bank of Marin Bancorp during the third quarter valued at $292,000. Institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.