Keefe, Bruyette & Woods Cuts Bank of Marin Bancorp (NASDAQ:BMRC) Price Target to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective lowered by Keefe, Bruyette & Woods from $25.00 to $21.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Other equities research analysts have also recently issued research reports about the company. Stephens dropped their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating for the company in a report on Tuesday, April 30th. DA Davidson dropped their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a research note on Tuesday, April 30th.

Bank of Marin Bancorp Trading Up 2.4 %

Shares of BMRC opened at $15.56 on Friday. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24. The company has a market cap of $253.63 million, a PE ratio of 18.75 and a beta of 0.88. The stock has a 50-day moving average price of $15.98 and a 200-day moving average price of $18.25.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The business had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.11% and a net margin of 9.28%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, analysts predict that Bank of Marin Bancorp will post 0.89 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds have recently bought and sold shares of BMRC. PNC Financial Services Group Inc. boosted its position in shares of Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after purchasing an additional 1,832 shares in the last quarter. SG Americas Securities LLC bought a new stake in Bank of Marin Bancorp in the third quarter worth $130,000. Bridge City Capital LLC grew its stake in shares of Bank of Marin Bancorp by 17.9% in the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after acquiring an additional 1,747 shares during the last quarter. Wealthspire Advisors LLC bought a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at $355,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Bank of Marin Bancorp by 38.6% during 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. 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.