Bank of Marin Bancorp (NASDAQ:BMRC) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Bank of Marin Bancorp (BMRC) from a "hold" to a "strong sell" in a research note to investors.
• The bank missed Q1 EPS ($0.53 vs. $0.56 expected), reported a negative net margin of 18.58% and a negative P/E of -12.69, indicating profitability pressure despite a positive return on equity.
• Analysts are mixed—three Buy, two Hold and one Sell—with a MarketBeat consensus of "Hold" and an average target of $28.40; shares traded around $25.64 with a market cap of about $415 million and a 52-week range of $20.25–$28.48.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on BMRC. Stephens reaffirmed an "overweight" rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday. Weiss Ratings raised shares of Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, April 17th. Keefe, Bruyette & Woods cut their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Wednesday. Piper Sandler cut their target price on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Finally, Wall Street Zen cut shares of Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

BMRC opened at $25.64 on Wednesday. Bank of Marin Bancorp has a fifty-two week low of $20.25 and a fifty-two week high of $28.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average of $25.47 and a two-hundred day moving average of $26.02. The stock has a market capitalization of $415.11 million, a price-to-earnings ratio of -12.69 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.07%. The firm had revenue of $34.14 million during the quarter, compared to analysts' expectations of $33.87 million. On average, research analysts expect that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Institutional Trading of Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after purchasing an additional 379 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Bank of Marin Bancorp by 17.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank's stock worth $72,000 after acquiring an additional 407 shares during the last quarter. State of Wyoming boosted its position in Bank of Marin Bancorp by 2.8% during the fourth quarter. State of Wyoming now owns 15,885 shares of the bank's stock worth $413,000 after acquiring an additional 433 shares during the last quarter. First Trust Advisors LP boosted its position 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 worth $241,000 after acquiring an additional 696 shares during the last quarter. Finally, Westmount Partners LLC boosted its position in Bank of Marin Bancorp by 0.8% during the first quarter. Westmount Partners LLC now owns 115,484 shares of the bank's stock worth $2,960,000 after acquiring an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

About Bank of Marin Bancorp

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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