Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded to “Hold” at StockNews.com

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages also recently issued reports on BMRC. Keefe, Bruyette & Woods boosted their price objective on 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. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 10th. Finally, Stephens reiterated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Wednesday.

Get Our Latest Stock Analysis on Bank of Marin Bancorp

Bank of Marin Bancorp Trading Up 0.7 %

Shares of NASDAQ BMRC opened at $25.17 on Friday. The company has a market capitalization of $404.73 million, a price-to-earnings ratio of -29.27 and a beta of 0.93. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11. The business has a 50 day simple moving average of $24.23 and a 200-day simple moving average of $22.24.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last posted its earnings results on Monday, January 27th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. 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 last year, the firm earned $0.04 earnings per share. As a group, equities analysts predict that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of Bank of Marin Bancorp by 6.9% in the 4th quarter. Rhumbline Advisers now owns 25,183 shares of the bank’s stock worth $599,000 after purchasing an additional 1,621 shares in the last quarter. Empowered Funds LLC grew its position in Bank of Marin Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 23,794 shares of the bank’s stock worth $566,000 after buying an additional 1,150 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Bank of Marin Bancorp by 7.1% in the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock valued at $155,000 after buying an additional 430 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter valued at $214,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Bank of Marin Bancorp by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock valued at $315,000 after acquiring an additional 2,469 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Bank of Marin Bancorp

(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.

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