Bank of Marin Bancorp (NASDAQ:BMRC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $31.50.

BMRC has been the subject of a number of research analyst reports. Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Brean Capital cut shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, July 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $26.91 on Monday. The company has a market capitalization of $435.78 million, a PE ratio of -29.57 and a beta of 0.79. Bank of Marin Bancorp has a 52-week low of $22.50 and a 52-week high of $30.92. The business’s fifty day moving average is $28.02 and its 200 day moving average is $26.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 27th. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $33.95 million during the quarter, compared to analysts’ expectations of $34.02 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 2.31 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is currently -109.89%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in Bank of Marin Bancorp by 43.4% during the first 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 acquiring an additional 8,242 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of 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 acquiring an additional 1,981 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Bank of Marin Bancorp in the 1st quarter valued at $441,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at $70,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.