Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a hold rating in a research note published on Saturday morning.

BMRC has been the topic of a number of other reports. UBS Group set a $30.00 price objective on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. DA Davidson boosted their target price on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 15th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.40.

Bank of Marin Bancorp Stock Down 2.9%

Shares of NASDAQ BMRC opened at $27.15 on Friday. The stock has a market cap of $436.84 million, a PE ratio of 43.79 and a beta of 0.85. The business has a 50-day moving average price of $25.93 and a 200 day moving average price of $24.52. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, March 7th. The bank reported $0.61 EPS for the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. The firm had revenue of $31.32 million during the quarter. Sell-side analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, November 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 161.29%.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in BMRC. Vanguard Group Inc. raised its stake in Bank of Marin Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 836,427 shares of the bank’s stock valued at $18,460,000 after purchasing an additional 10,250 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Bank of Marin Bancorp during the first quarter worth about $1,668,000. HoldCo Asset Management LP purchased a new stake in shares of Bank of Marin Bancorp during the second quarter worth about $9,305,000. Nuveen LLC acquired a new position in shares of Bank of Marin Bancorp in the first quarter valued at approximately $839,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Bank of Marin Bancorp by 7.0% during the 1st quarter. Alliancebernstein L.P. now owns 701,534 shares of the bank’s stock worth $15,483,000 after purchasing an additional 46,020 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.