Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Cut to $15.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective decreased by DA Davidson from $17.00 to $15.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 1.28% from the company’s current price. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2025 earnings at $1.35 EPS.

Separately, Stephens decreased their price target on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday.

Bank of Marin Bancorp Price Performance

NASDAQ BMRC opened at $14.81 on Tuesday. Bank of Marin Bancorp has a one year low of $12.89 and a one year high of $23.24. The firm has a market cap of $241.40 million, a P/E ratio of 17.84 and a beta of 0.85. The stock’s 50-day moving average is $16.05 and its 200-day moving average is $18.28.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.11% and a net margin of 9.28%. During the same quarter last year, the company posted $0.59 EPS. Equities analysts anticipate that Bank of Marin Bancorp will post 1.23 EPS for the current year.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMRC. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth about $130,000. Rosenthal Henry Capital Advisors Inc. increased its holdings in shares of Bank of Marin Bancorp by 135.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after acquiring an additional 25,000 shares during the last quarter. Barclays PLC raised its stake in Bank of Marin Bancorp by 7.7% in the 3rd quarter. Barclays PLC now owns 23,605 shares of the bank’s stock valued at $432,000 after acquiring an additional 1,683 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Bank of Marin Bancorp by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock valued at $1,385,000 after purchasing an additional 1,879 shares during the last quarter. Finally, North Reef Capital Management LP acquired a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth about $1,005,000. 52.26% of the stock is 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 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.