Bank of Marin Bancorp (NASDAQ:BMRC) Receives Consensus Recommendation of “Hold” from Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.40.

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. DA Davidson decreased their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Stephens reaffirmed an “equal weight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BMRC. AQR Capital Management LLC lifted its stake in Bank of Marin Bancorp by 43.4% in the 1st quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock worth $877,000 after purchasing an additional 12,019 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock worth $186,000 after purchasing an additional 8,242 shares in the last quarter. Empowered Funds LLC lifted its stake in Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock worth $569,000 after purchasing an additional 1,981 shares in the last quarter. Jane Street Group LLC purchased a new position in Bank of Marin Bancorp in the 1st quarter worth approximately $441,000. Finally, Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp in the 2nd quarter worth approximately $70,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Trading Up 0.8%

Shares of Bank of Marin Bancorp stock opened at $25.94 on Friday. The firm has a market capitalization of $419.97 million, a PE ratio of -12.84 and a beta of 0.82. Bank of Marin Bancorp has a twelve month low of $20.25 and a twelve month high of $28.48. The firm’s 50-day moving average price is $25.56 and its 200 day moving average price is $26.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The company had revenue of $34.14 million during the quarter, compared to analysts’ expectations of $33.87 million. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. On average, sell-side analysts predict that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -49.50%.

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.