Bank of Marin Bancorp (NASDAQ:BMRC) Earns “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a report released on Thursday,Benzinga reports. They currently have a $30.00 target price on the bank’s stock.

Several other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, October 10th. Finally, StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th.

Bank of Marin Bancorp Stock Up 0.0 %

NASDAQ:BMRC opened at $23.52 on Thursday. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $27.11. The stock has a fifty day simple moving average of $24.59 and a 200-day simple moving average of $21.26. The company has a market capitalization of $378.27 million, a PE ratio of -27.35 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $39.21 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.33 earnings per share. As a group, equities analysts anticipate that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.25%. Bank of Marin Bancorp’s dividend payout ratio is currently -116.28%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake 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 valued at $11,595,000 after purchasing an additional 33,280 shares in the last quarter. State Street Corp raised its position in shares of Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after buying an additional 3,073 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bank of Marin Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares during the period. Basswood Capital Management L.L.C. bought a new position in shares of Bank of Marin Bancorp in the third quarter valued at approximately $3,411,000. Finally, Renaissance Technologies LLC increased its stake in shares of Bank of Marin Bancorp by 29.5% during the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after acquiring an additional 34,200 shares during the period. 52.26% of the stock is 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 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.