Bank of Marin Bancorp (NASDAQ:BMRC) Raised to “Buy” at DA Davidson

DA Davidson upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRCFree Report) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat reports. The firm currently has $24.00 price target on the bank’s stock. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2025 earnings at $1.23 EPS.

A number of other research firms have also recently commented on BMRC. Stephens reiterated an equal weight rating and set a $16.00 price target on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. Keefe, Bruyette & Woods boosted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an outperform rating in a report on Wednesday, July 31st.

Get Our Latest Analysis on Bank of Marin Bancorp

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC opened at $21.81 on Thursday. The stock has a 50 day moving average price of $19.93 and a 200 day moving average price of $17.67. The stock has a market capitalization of $355.20 million, a PE ratio of 26.28 and a beta of 0.92. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last released its earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.13). Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The firm had revenue of $37.12 million during the quarter, compared to the consensus estimate of $25.85 million. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, research analysts forecast that Bank of Marin Bancorp will post 0.47 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 4.59%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Bank of Marin Bancorp in the 1st quarter valued at $816,000. ProShare Advisors LLC increased its position in Bank of Marin Bancorp by 21.4% during the first quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock worth $7,546,000 after acquiring an additional 79,291 shares during the period. Choreo LLC acquired a new stake in Bank of Marin Bancorp in the 2nd quarter worth about $426,000. Assenagon Asset Management S.A. bought a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $396,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Bank of Marin Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares during the period. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

(Get Free Report)

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

Recommended Stories

Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.