Stephens Cuts Bank of Marin Bancorp (NASDAQ:BMRC) Price Target to $16.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price trimmed by Stephens from $19.00 to $16.00 in a report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Separately, DA Davidson cut their price target on shares of Bank of Marin Bancorp from $23.00 to $21.00 and set a neutral rating on the stock in a report on Tuesday, January 30th.

Bank of Marin Bancorp Price Performance

BMRC stock opened at $15.56 on Tuesday. The stock has a market capitalization of $253.63 million, a price-to-earnings ratio of 18.75 and a beta of 0.88. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The business’s fifty day moving average price is $16.01 and its two-hundred day moving average price is $18.26.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. The company had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. During the same period last year, the firm earned $0.59 EPS. Research analysts expect that Bank of Marin Bancorp will post 0.96 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

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

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently bought and sold shares of BMRC. Mutual of America Capital Management LLC lifted its position in shares of Bank of Marin Bancorp by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock valued at $1,385,000 after purchasing an additional 1,879 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Bank of Marin Bancorp by 1.9% during the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock valued at $1,409,000 after purchasing an additional 1,201 shares during the last quarter. North Reef Capital Management LP purchased a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $1,005,000. Rosenthal Henry Capital Advisors Inc. increased its holdings in shares of Bank of Marin Bancorp by 135.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after buying an additional 25,000 shares during the period. Finally, Private Wealth Partners LLC boosted its stake in shares of Bank of Marin Bancorp by 2.7% during the fourth quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock valued at $814,000 after purchasing an additional 983 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 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.