Bank of Marin Bancorp (NASDAQ:BMRC) Given New $15.00 Price Target at DA Davidson

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective cut by DA Davidson from $17.00 to $15.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, Stephens dropped their target price on Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating on the stock in a research report on Tuesday.

Bank of Marin Bancorp Trading Down 0.6 %

Shares of NASDAQ:BMRC opened at $14.36 on Tuesday. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24. The business has a 50 day moving average of $16.10 and a two-hundred day moving average of $18.30. The company has a market capitalization of $234.07 million, a PE ratio of 11.58 and a beta of 0.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.10). The firm had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Equities research analysts predict that Bank of Marin Bancorp will post 1.23 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 6.96%. Bank of Marin Bancorp’s dividend payout ratio is currently 80.65%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of large investors have recently added to or reduced their stakes in BMRC. Bridge City Capital LLC raised its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after purchasing an additional 1,747 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Bank of Marin Bancorp by 348.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after acquiring an additional 1,832 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at approximately $432,000. BNP Paribas Financial Markets lifted its position in shares of Bank of Marin Bancorp by 38.6% in the fourth quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock valued at $377,000 after acquiring an additional 4,762 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth approximately $355,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.