Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Bank of Marin Bancorp “Hold” on average: Five of seven covering brokerages recommend holding the stock, while two recommend buying it. The average 12-month price target is $31.50, above the reported $26.91 share price.
• The bank exceeded quarterly earnings expectations, reporting $0.58 EPS versus the $0.52 consensus, while revenue of $33.95 million was slightly below estimates.
• Bank of Marin Bancorp announced a quarterly dividend of $0.25 per share, equal to $1.00 annually and a 3.7% yield; institutional investors own 52.26% of the company.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) has been assigned a consensus rating of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.50.

Several research analysts have weighed in on BMRC shares. Stephens set a $30.00 price objective on Bank of Marin Bancorp and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Brean Capital lowered Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 target price for the company. in a research report on Tuesday, July 28th. Piper Sandler reiterated a "neutral" rating and set a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. DA Davidson set a $34.00 price target on shares of Bank of Marin Bancorp and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $26.91 on Monday. Bank of Marin Bancorp has a 52 week low of $22.50 and a 52 week high of $30.92. The firm has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $26.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $435.78 million, a price-to-earnings ratio of -29.57 and a beta of 0.79.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. The firm had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. On average, equities analysts expect that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp's dividend payout ratio is currently -109.89%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds have recently modified their holdings of the stock. Paladin Partners LLC purchased a new position in Bank of Marin Bancorp during the 2nd quarter valued at about $53,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after buying an additional 379 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Bank of Marin Bancorp by 17.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank's stock valued at $72,000 after acquiring an additional 407 shares during the period. State of Wyoming boosted its position in shares of Bank of Marin Bancorp by 2.8% in the fourth quarter. State of Wyoming now owns 15,885 shares of the bank's stock valued at $413,000 after acquiring an additional 433 shares during the period. Finally, First Trust Advisors LP grew its stake in Bank of Marin Bancorp by 7.1% during the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank's stock valued at $241,000 after acquiring an additional 696 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company's core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.

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