Bank of Marin Bancorp (NASDAQ:BMRC) Raised to “Hold” at BidaskClub

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

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 24th. ValuEngine lowered shares of Bank of Marin Bancorp from a sell rating to a strong sell rating in a research report on Thursday, September 5th.

Shares of BMRC opened at $43.65 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.05. The firm has a market cap of $586.25 million, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.57 and a beta of 0.57. The company’s 50 day simple moving average is $41.51 and its 200-day simple moving average is $41.96. Bank of Marin Bancorp has a 12-month low of $38.00 and a 12-month high of $45.13.



Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. Bank of Marin Bancorp had a net margin of 31.30% and a return on equity of 10.70%. The business had revenue of $26.06 million for the quarter, compared to analyst estimates of $26.59 million. As a group, equities research analysts forecast that Bank of Marin Bancorp will post 2.39 EPS for the current fiscal year.

In related news, EVP Peter Pelham sold 3,000 shares of Bank of Marin Bancorp stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.10, for a total value of $120,300.00. Following the transaction, the executive vice president now directly owns 9,857 shares in the company, valued at approximately $395,265.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 4,391 shares of company stock worth $180,466. 5.29% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of BMRC. Dimensional Fund Advisors LP grew its position in Bank of Marin Bancorp by 115.3% in the 4th 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. BTIM Corp. purchased a new position in Bank of Marin Bancorp in the 2nd quarter valued at $3,943,000. Susquehanna International Group LLP grew its position in Bank of Marin Bancorp by 955.1% in the 2nd quarter. Susquehanna International Group LLP now owns 62,493 shares of the bank’s stock valued at $2,563,000 after buying an additional 56,570 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Bank of Marin Bancorp in the 2nd quarter valued at $2,010,000. Finally, Morgan Stanley lifted its holdings in Bank of Marin Bancorp by 84.1% in the second quarter. Morgan Stanley now owns 85,161 shares of the bank’s stock valued at $3,493,000 after acquiring an additional 38,909 shares during the period. Hedge funds and other institutional investors own 45.23% of the company’s stock.

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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