Stephens Forecasts Strong Price Appreciation for Bank of Marin Bancorp (NASDAQ:BMRC) Stock

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target lifted by equities research analysts at Stephens from $30.00 to $33.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens‘s target price indicates a potential upside of 12.19% from the company’s current price.

Several other equities research analysts have also weighed in on BMRC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bank of Marin Bancorp in a report on Friday, September 25th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of Bank of Marin Bancorp in a research report on Thursday, October 1st. DA Davidson reaffirmed a “buy” rating and set a $34.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, October 27th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Brean Capital lowered shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of Marin Bancorp currently has an average rating of “Hold” and an average price target of $32.20.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC traded up $1.04 during trading hours on Monday, reaching $29.41. The company had a trading volume of 21,717 shares, compared to its average volume of 127,400. The stock has a 50-day moving average of $27.34 and a two-hundred day moving average of $26.80. Bank of Marin Bancorp has a one year low of $23.35 and a one year high of $30.92. The firm has a market capitalization of $476.35 million, a PE ratio of -38.70 and a beta of 0.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $35.07 million during the quarter, compared to analyst estimates of $35.11 million. Bank of Marin Bancorp had a positive return on equity of 9.38% and a negative net margin of 6.48%. Analysts forecast that Bank of Marin Bancorp will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in Bank of Marin Bancorp during the 2nd quarter worth about $43,000. Allworth Financial LP acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $87,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $266,000. Lodestar Private Asset Management LLC raised its stake in shares of Bank of Marin Bancorp by 8.4% in the third quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock worth $298,000 after acquiring an additional 849 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Bank of Marin Bancorp in the second quarter worth about $380,000. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.