Stephens Upgrades Bank of Marin Bancorp (NASDAQ:BMRC) to “Overweight”

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat.com reports.

Several other equities research analysts also recently issued reports on BMRC. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $24.95 on Monday. The firm has a 50-day moving average of $23.49 and a 200-day moving average of $20.15. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $27.11. The company has a market cap of $401.20 million, a price-to-earnings ratio of -29.01 and a beta of 0.93.

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

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds have recently bought and sold shares of BMRC. CWM LLC lifted its position in Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after acquiring an additional 1,096 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Bank of Marin Bancorp during the third quarter worth approximately $74,000. SG Americas Securities LLC bought a new position in shares of Bank of Marin Bancorp during the third quarter worth approximately $122,000. XTX Topco Ltd bought a new position in shares of Bank of Marin Bancorp during the second quarter worth approximately $168,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Bank of Marin Bancorp by 21.1% during the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after purchasing an additional 2,131 shares during the period. 52.26% 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 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.