Bank of Marin Bancorp’s (BMRC) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $30.00 price objective on the bank’s stock.

A number of other research firms have also recently commented on BMRC. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 10th. Finally, StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th.

Bank of Marin Bancorp Stock Up 0.0 %

BMRC stock opened at $23.52 on Thursday. The stock has a market cap of $378.27 million, a price-to-earnings ratio of -27.35 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The business has a 50 day moving average price of $24.59 and a 200 day moving average price of $21.26.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The business had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, sell-side analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

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

Institutional Trading of Bank of Marin Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in BMRC. Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp in the third quarter worth $74,000. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth $122,000. XTX Topco Ltd purchased a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $168,000. Hsbc Holdings PLC lifted its stake in shares of Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,131 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.