Bank of Marin Bancorp (NASDAQ:BMRC) Issues Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC) announced its earnings results on Friday. The bank reported $0.59 earnings per share for the quarter, FiscalAI reports. The company had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%.

Bank of Marin Bancorp Stock Performance

Bank of Marin Bancorp stock opened at $23.90 on Friday. The company has a market cap of $384.55 million, a P/E ratio of -10.62 and a beta of 0.89. Bank of Marin Bancorp has a one year low of $19.14 and a one year high of $28.48. The business has a fifty day moving average of $26.28 and a two-hundred day moving average of $25.75.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at about $31,000. Russell Investments Group Ltd. grew its position in Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after buying an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after buying an additional 379 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Bank of Marin Bancorp by 88.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,356 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BMRC. Zacks Research cut Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Stephens reissued an “overweight” rating and issued a $29.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Piper Sandler restated a “neutral” rating and set a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Wall Street Zen cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Marin Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $30.10.

Bank of Marin Bancorp Company Profile

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.