Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Rating of “Hold” by Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $30.6667.

Several research analysts have recently commented on BMRC shares. Stephens set a $30.00 price target on shares of Bank of Marin Bancorp and gave the stock an “equal weight” rating in a research note on Wednesday. Brean Capital cut Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Tuesday. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th.

Bank of Marin Bancorp Trading Down 2.4%

Shares of NASDAQ BMRC opened at $28.41 on Thursday. The business has a 50 day simple moving average of $27.19 and a 200 day simple moving average of $26.41. Bank of Marin Bancorp has a 52 week low of $21.77 and a 52 week high of $30.92. The stock has a market cap of $459.96 million, a price-to-earnings ratio of -31.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $33.95 million during the quarter, compared to analysts’ expectations of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.44%. On average, research analysts predict that Bank of Marin Bancorp will post 2.19 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -49.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of 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 worth $22,909,000 after acquiring an additional 687,615 shares during the period. Vanguard Group Inc. raised its stake in shares of Bank of Marin Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock valued at $20,362,000 after purchasing an additional 5,690 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bank of Marin Bancorp by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock valued at $20,577,000 after purchasing an additional 32,048 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Bank of Marin Bancorp by 1.9% in the first quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after purchasing an additional 8,758 shares during the period. Finally, Geode Capital Management LLC lifted its position in Bank of Marin Bancorp by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 385,827 shares of the bank’s stock worth $10,038,000 after purchasing an additional 13,258 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.