BidaskClub upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a buy rating in a research note issued to investors on Tuesday, July 11th.
Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Bank of Marin Bancorp from a hold rating to a buy rating in a research report on Saturday, June 3rd. Keefe, Bruyette & Woods restated a hold rating and issued a $68.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a sell rating to a hold rating in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies dropped their target price on shares of Bank of Marin Bancorp from $70.00 to $69.00 and set a neutral rating on the stock in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $70.75.
Shares of Bank of Marin Bancorp (NASDAQ BMRC) traded down 1.94% during trading on Tuesday, hitting $63.20. The stock had a trading volume of 42,377 shares. Bank of Marin Bancorp has a 52-week low of $48.50 and a 52-week high of $75.05. The stock has a 50 day moving average of $63.87 and a 200 day moving average of $65.18. The firm has a market cap of $386.15 million, a PE ratio of 17.38 and a beta of 0.90.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The company had revenue of $20.40 million during the quarter, compared to the consensus estimate of $20.33 million. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%. On average, equities analysts anticipate that Bank of Marin Bancorp will post $3.25 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.84%. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.27. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 31.78%.
A number of large investors have recently modified their holdings of BMRC. Wellington Management Group LLP bought a new stake in shares of Bank of Marin Bancorp during the first quarter valued at about $4,623,000. FSI Group LLC bought a new stake in shares of Bank of Marin Bancorp during the second quarter valued at about $2,942,000. Vanguard Group Inc. boosted its stake in shares of Bank of Marin Bancorp by 20.3% in the first quarter. Vanguard Group Inc. now owns 213,212 shares of the bank’s stock valued at $13,720,000 after buying an additional 36,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Bank of Marin Bancorp by 23.7% in the second quarter. Dimensional Fund Advisors LP now owns 81,370 shares of the bank’s stock valued at $5,009,000 after buying an additional 15,587 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Bank of Marin Bancorp by 13.7% in the fourth quarter. State Street Corp now owns 112,543 shares of the bank’s stock valued at $7,850,000 after buying an additional 13,526 shares in the last quarter. Institutional investors own 42.07% of the company’s stock.
About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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