Stephens Reaffirms “Overweight” Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $30.00 target price on the bank’s stock. Stephens’ price target would indicate a potential upside of 26.21% from the company’s current price.

A number of other equities analysts have also recently issued reports on BMRC. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, October 10th.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $23.77 on Thursday. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The stock has a market capitalization of $382.29 million, a price-to-earnings ratio of -27.64 and a beta of 0.93. The company’s 50 day simple moving average is $24.52 and its 200 day simple moving average is $21.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BMRC. Quantbot Technologies LP bought a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at about $74,000. SG Americas Securities LLC bought a new stake in Bank of Marin Bancorp in the third quarter valued at approximately $122,000. XTX Topco Ltd acquired a new stake in Bank of Marin Bancorp during the 2nd quarter valued at approximately $168,000. Hsbc Holdings PLC raised its holdings in Bank of Marin Bancorp by 21.1% during the 2nd 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 last quarter. Finally, Sei Investments Co. lifted its position in shares of Bank of Marin Bancorp by 23.3% in the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock worth $231,000 after purchasing an additional 2,700 shares during the period. 52.26% of the stock is owned by institutional investors.

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.