BidaskClub Lowers Bank of Marin Bancorp (BMRC) to Hold

BidaskClub cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a hold rating in a report issued on Wednesday morning.

BMRC has been the topic of a number of other research reports. Zacks Investment Research raised shares of Bank of Marin Bancorp from a hold rating to a buy rating and set a $45.50 price target on the stock in a research report on Wednesday, October 24th. ValuEngine lowered shares of Bank of Marin Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, November 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $43.20.

NASDAQ:BMRC opened at $39.25 on Wednesday. Bank of Marin Bancorp has a 12 month low of $31.75 and a 12 month high of $45.42. The company has a market capitalization of $543.89 million, a PE ratio of 19.21, a PEG ratio of 2.51 and a beta of 0.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.87 and a current ratio of 0.87.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.33%. The company had revenue of $25.78 million for the quarter, compared to analyst estimates of $25.33 million. Analysts predict that Bank of Marin Bancorp will post 2.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, November 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, October 31st. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 42.68%.

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in Bank of Marin Bancorp during the second quarter worth $186,000. State Board of Administration of Florida Retirement System bought a new position in Bank of Marin Bancorp during the third quarter worth $202,000. Voya Investment Management LLC bought a new position in Bank of Marin Bancorp during the second quarter worth $222,000. Polaris Greystone Financial Group LLC bought a new position in Bank of Marin Bancorp during the third quarter worth $227,000. Finally, Brouwer & Janachowski LLC bought a new position in Bank of Marin Bancorp during the second quarter worth $335,000. 43.90% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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