Bank of Marin Bancorp (BMRC) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a buy rating in a report released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Bank of Marin Bancorp from a buy rating to a sell rating in a research note on Thursday, April 25th. DA Davidson reissued a neutral rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Bank of Marin Bancorp has an average rating of Hold and an average target price of $44.75.

Shares of Bank of Marin Bancorp stock opened at $42.00 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. Bank of Marin Bancorp has a 52 week low of $38.00 and a 52 week high of $45.42. The company has a market capitalization of $577.42 million, a price-to-earnings ratio of 18.03, a PEG ratio of 2.47 and a beta of 0.59.



Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.11). Bank of Marin Bancorp had a net margin of 31.44% and a return on equity of 10.79%. The firm had revenue of $25.62 million during the quarter, compared to analyst estimates of $26.39 million. As a group, research analysts predict that Bank of Marin Bancorp will post 2.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, May 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.81%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 32.62%.

In related news, CEO Russell A. Colombo sold 2,553 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $42.10, for a total transaction of $107,481.30. Following the transaction, the chief executive officer now owns 65,409 shares of the company’s stock, valued at $2,753,718.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter Pelham sold 624 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $41.45, for a total value of $25,864.80. Following the transaction, the insider now directly owns 16,357 shares in the company, valued at approximately $677,997.65. The disclosure for this sale can be found here. Insiders sold 5,995 shares of company stock valued at $251,505 in the last three months. Insiders own 5.29% of the company’s stock.

Several large investors have recently made changes to their positions in BMRC. BlackRock Inc. boosted its position in shares of Bank of Marin Bancorp by 104.3% during the fourth quarter. BlackRock Inc. now owns 1,144,009 shares of the bank’s stock valued at $47,178,000 after buying an additional 584,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bank of Marin Bancorp by 115.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 437,482 shares of the bank’s stock valued at $18,041,000 after buying an additional 234,328 shares during the last quarter. Northern Trust Corp boosted its position in shares of Bank of Marin Bancorp by 97.4% during the fourth quarter. Northern Trust Corp now owns 179,262 shares of the bank’s stock valued at $7,393,000 after buying an additional 88,456 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Bank of Marin Bancorp by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 148,546 shares of the bank’s stock valued at $6,126,000 after buying an additional 85,226 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Bank of Marin Bancorp by 103.0% during the fourth quarter. Millennium Management LLC now owns 104,159 shares of the bank’s stock valued at $4,296,000 after buying an additional 52,848 shares during the last quarter. 42.67% of the stock is currently owned by institutional investors.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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