Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective upped by analysts at Keefe, Bruyette & Woods from $21.00 to $23.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 7.88% from the company’s current price.

BMRC has been the subject of several other research reports. Stephens reissued an “equal weight” rating and issued a $16.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. DA Davidson cut their price objective 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 Trading Up 8.7 %

BMRC stock opened at $21.32 on Wednesday. The stock has a market cap of $347.30 million, a PE ratio of 25.69 and a beta of 0.93. The stock has a 50-day moving average price of $16.91 and a two-hundred day moving average price of $16.91. 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 released its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Bank of Marin Bancorp had a positive return on equity of 3.26% and a negative net margin of 9.09%. The firm had revenue of $37.12 million for the quarter, compared to analyst estimates of $25.85 million. During the same period last year, the company earned $0.28 EPS. On average, analysts forecast that Bank of Marin Bancorp will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after buying an additional 1,096 shares in the last quarter. Riverview Trust Co lifted its stake in shares of Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,001 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Bank of Marin Bancorp by 348.3% in 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 in the last quarter. SG Americas Securities LLC raised its position in Bank of Marin Bancorp by 29.7% in the fourth quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock valued at $202,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Bridge City Capital LLC raised its stake in shares of Bank of Marin Bancorp by 17.9% during the first 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 last quarter. Institutional investors and hedge funds 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.