StockNews.com Downgrades Bank of Marin Bancorp (NASDAQ:BMRC) to Sell

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

A number of other brokerages have also issued reports on BMRC. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 10th. 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.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock opened at $26.15 on Monday. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $26.67. The firm has a market capitalization of $425.72 million, a price-to-earnings ratio of -30.60 and a beta of 0.90. The business has a fifty day moving average of $21.39 and a 200 day moving average of $18.74.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business 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 period in the prior year, the business posted $0.33 EPS. As a group, equities research analysts expect that Bank of Marin Bancorp will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Bank of Marin Bancorp by 4.9% during the second 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 last quarter. ProShare Advisors LLC lifted its position in shares of Bank of Marin Bancorp by 21.4% during the 1st quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock worth $7,546,000 after buying an additional 79,291 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after buying an additional 34,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Bank of Marin Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock worth $2,451,000 after purchasing an additional 2,842 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Bank of Marin Bancorp by 104.4% during the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 50,874 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

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.