Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) released its quarterly earnings results on Monday. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07), Zacks reports. Bank of Marin Bancorp had a negative net margin of 4.20% and a positive return on equity of 3.77%.
Bank of Marin Bancorp Stock Performance
Shares of NASDAQ BMRC opened at $23.55 on Monday. The company has a market cap of $381.98 million, a PE ratio of -58.59 and a beta of 0.86. The business has a 50-day simple moving average of $23.01 and a two-hundred day simple moving average of $22.77. Bank of Marin Bancorp has a fifty-two week low of $16.97 and a fifty-two week high of $27.11.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of Bank of Marin Bancorp by 43.4% in the first quarter. AQR Capital Management LLC now owns 39,735 shares of the bank's stock valued at $877,000 after buying an additional 12,019 shares in the last quarter. Empowered Funds LLC boosted its stake in Bank of Marin Bancorp by 8.3% during the first quarter. Empowered Funds LLC now owns 25,775 shares of the bank's stock worth $569,000 after buying an additional 1,981 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Bank of Marin Bancorp in the 1st quarter valued at $441,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank's stock valued at $186,000 after purchasing an additional 8,242 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on BMRC shares. Piper Sandler increased their price target on Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Stephens reiterated an "overweight" rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.50.
View Our Latest Stock Report on Bank of Marin Bancorp
About Bank of Marin Bancorp
(
Get Free Report)
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.
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