Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

Several other research analysts also recently commented on BMRC. ValuEngine raised shares of Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Finally, DA Davidson reaffirmed a neutral rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of Hold and an average target price of $44.75.

BMRC stock opened at $42.82 on Wednesday. The stock has a market cap of $588.69 million, a P/E ratio of 17.80, a PEG ratio of 2.53 and a beta of 0.58. Bank of Marin Bancorp has a 12 month low of $38.00 and a 12 month high of $45.13. The business has a 50-day moving average of $41.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.11). The company had revenue of $25.62 million during the quarter, compared to analysts’ expectations of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.79% and a net margin of 31.44%. As a group, analysts predict that Bank of Marin Bancorp will post 2.42 earnings per share for the current fiscal year.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 624 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $41.45, for a total transaction of $25,864.80. Following the transaction, the insider now directly owns 16,357 shares in the company, valued at approximately $677,997.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Russell A. Colombo sold 2,553 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $42.10, for a total transaction of $107,481.30. Following the transaction, the chief executive officer now owns 65,409 shares in the company, valued at $2,753,718.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,995 shares of company stock worth $251,505. 5.29% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of BMRC. BlackRock Inc. grew its holdings in Bank of Marin Bancorp by 104.3% during the 4th quarter. BlackRock Inc. now owns 1,144,009 shares of the bank’s stock worth $47,178,000 after acquiring an additional 584,103 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 115.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 437,482 shares of the bank’s stock worth $18,041,000 after acquiring an additional 234,328 shares in the last quarter. Northern Trust Corp grew its holdings in Bank of Marin Bancorp by 97.4% during the 4th quarter. Northern Trust Corp now owns 179,262 shares of the bank’s stock worth $7,393,000 after acquiring an additional 88,456 shares in the last quarter. Geode Capital Management LLC grew its holdings in Bank of Marin Bancorp by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 148,546 shares of the bank’s stock worth $6,126,000 after acquiring an additional 85,226 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Bank of Marin Bancorp by 103.0% during the 4th quarter. Millennium Management LLC now owns 104,159 shares of the bank’s stock worth $4,296,000 after acquiring an additional 52,848 shares in the last quarter. Institutional investors own 42.61% 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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

Read More: Why are gap-down stocks important?

Get a free copy of the Zacks research report on Bank of Marin Bancorp (BMRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.