Bank of Marin Bancorp (NASDAQ:BMRC) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.50.
Several equities analysts have recently issued reports on BMRC shares. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, DA Davidson reiterated a “neutral” rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd.
Shares of BMRC traded up $0.46 during midday trading on Friday, hitting $42.82. The company’s stock had a trading volume of 25,249 shares, compared to its average volume of 54,392. Bank of Marin Bancorp has a one year low of $38.00 and a one year high of $45.13. The company’s fifty day moving average price is $41.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $582.38 million, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58.
In related news, insider Peter Pelham sold 2,818 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $41.93, for a total transaction of $118,158.74. Following the sale, the insider now owns 16,981 shares of the company’s stock, valued at approximately $712,013.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Russell A. Colombo sold 2,553 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $42.10, for a total value of $107,481.30. Following the sale, the chief executive officer now directly owns 65,409 shares in the company, valued at approximately $2,753,718.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,995 shares of company stock worth $251,505. 5.29% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. Marshall Wace LLP bought a new position in shares of Bank of Marin Bancorp in the first quarter worth $75,000. O Shaughnessy Asset Management LLC bought a new position in shares of Bank of Marin Bancorp in the first quarter worth $58,000. Anchor Capital Advisors LLC increased its holdings in shares of Bank of Marin Bancorp by 0.7% in the first quarter. Anchor Capital Advisors LLC now owns 39,062 shares of the bank’s stock worth $1,589,000 after purchasing an additional 285 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Bank of Marin Bancorp by 35.6% in the first quarter. Acadian Asset Management LLC now owns 37,088 shares of the bank’s stock worth $1,510,000 after purchasing an additional 9,737 shares during the period. Finally, Martingale Asset Management L P bought a new position in shares of Bank of Marin Bancorp in the first quarter worth $1,014,000. 42.61% of the stock is currently 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 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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