Bank of Marin Bancorp (NASDAQ:BMRC) Receives Consensus Rating of “Hold” from Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average recommendation of “Hold” by the six analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.40.

Several research analysts have recently commented on BMRC shares. Weiss Ratings lowered Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Keefe, Bruyette & Woods reduced their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Zacks Research lowered Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Piper Sandler reduced their price target on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, DA Davidson reduced their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th.

Bank of Marin Bancorp Stock Down 0.7%

NASDAQ BMRC opened at $25.42 on Friday. Bank of Marin Bancorp has a 52 week low of $20.25 and a 52 week high of $28.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $25.47 and its 200-day simple moving average is $26.18. The firm has a market cap of $411.55 million, a PE ratio of -12.58 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%.The company had revenue of $34.14 million for the quarter, compared to analysts’ expectations of $33.87 million. As a group, equities analysts anticipate that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s payout ratio is currently -49.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BMRC. Wellington Management Group LLP raised its holdings in Bank of Marin Bancorp by 268.7% in the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after buying an additional 687,615 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Marin Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock valued at $20,362,000 after buying an additional 5,690 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bank of Marin Bancorp by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock valued at $20,577,000 after buying an additional 32,048 shares during the period. HoldCo Asset Management LP raised its holdings in Bank of Marin Bancorp by 23.8% in the 3rd quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after buying an additional 97,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Bank of Marin Bancorp by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 385,827 shares of the bank’s stock valued at $10,038,000 after buying an additional 13,258 shares during the period. Hedge funds and other 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.