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

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

A number of other brokerages have also commented on BMRC. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price objective 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.

Bank of Marin Bancorp Trading Up 0.4 %

BMRC stock opened at $25.27 on Wednesday. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The firm has a market cap of $406.34 million, a PE ratio of -48.60 and a beta of 0.93. The business’s 50-day moving average price is $24.22 and its two-hundred day moving average price is $22.26.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same period last year, the firm posted $0.04 earnings per share. On average, analysts forecast that Bank of Marin Bancorp will post 1.6 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th will be paid a $0.25 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 3.96%. Bank of Marin Bancorp’s payout ratio is currently -192.30%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of large investors have recently modified their holdings of BMRC. Basswood Capital Management L.L.C. acquired a new position in Bank of Marin Bancorp during the third quarter valued at approximately $3,411,000. Zacks Investment Management bought a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $2,195,000. AQR Capital Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at approximately $709,000. Renaissance Technologies LLC grew its stake in shares of Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after buying an additional 34,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 worth $11,595,000 after buying an additional 33,280 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.