Bank of Marin Bancorp (NASDAQ:BMRC) Rating Reiterated by Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “outperform” rating reiterated by analysts at Keefe, Bruyette & Woods in a research report issued on Friday, Benzinga reports. They presently have a $21.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 30.52% from the company’s previous close.

A number of other brokerages have also recently commented on BMRC. Stephens reaffirmed an “equal weight” rating and set a $16.00 price target on shares of Bank of Marin Bancorp in a research report on Thursday. DA Davidson decreased their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC traded up $0.02 during trading hours on Friday, hitting $16.09. 6,677 shares of the stock were exchanged, compared to its average volume of 61,264. The company’s fifty day simple moving average is $15.32 and its two-hundred day simple moving average is $17.39. The company has a market cap of $262.11 million, a PE ratio of 19.39 and a beta of 0.91. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, sell-side analysts expect that Bank of Marin Bancorp will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. Private Wealth Partners LLC increased its position in shares of Bank of Marin Bancorp by 2.7% during the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock valued at $814,000 after purchasing an additional 983 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in Bank of Marin Bancorp by 1.9% during the fourth quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock worth $1,409,000 after buying an additional 1,201 shares during the last quarter. Bridge City Capital LLC grew its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after acquiring an additional 1,747 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after purchasing an additional 1,832 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Bank of Marin Bancorp by 29.7% in the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock worth $202,000 after purchasing an additional 2,105 shares during the period. 52.26% of the stock is currently owned by hedge funds and other 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.