Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a hold rating in a report published on Tuesday.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens raised shares of Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $24.95 on Tuesday. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $27.11. The stock has a 50 day moving average price of $23.49 and a two-hundred day moving average price of $20.15. The firm has a market capitalization of $401.20 million, a P/E ratio of -29.01 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The business had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 4.01%. Bank of Marin Bancorp’s payout ratio is currently -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $426,000. AQR Capital Management LLC purchased a new stake in Bank of Marin Bancorp in the second quarter worth $709,000. Acadian Asset Management LLC raised its stake in shares of Bank of Marin Bancorp by 104.4% in the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after buying an additional 50,874 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at $396,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after acquiring an additional 33,280 shares during the period. Institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.