Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bank of Marin Bancorp (NASDAQ:BMRC) from a "sell" to a "strong sell" in a report released Saturday.
• Analyst views are mixed — three Buys, two Holds and one Sell — leaving an average rating of Hold and an average price target of $28.40 after several firms trimmed targets.
• BMRC reported Q1 EPS of $0.53 versus $0.56 expected, and the stock trades around $25.87 with a 12‑month range of $20.25–$28.48, a market cap of about $419M and a reported PE of -12.81.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. DA Davidson decreased their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an "outperform" rating on the stock in a report on Wednesday. Weiss Ratings upgraded Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, April 17th. Stephens restated an "overweight" rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday. Finally, Piper Sandler reduced their price target on Bank of Marin Bancorp from $30.50 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $28.40.

Bank of Marin Bancorp Stock Performance

Bank of Marin Bancorp stock opened at $25.87 on Friday. Bank of Marin Bancorp has a 12-month low of $20.25 and a 12-month high of $28.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The business's 50-day moving average price is $25.47 and its two-hundred day moving average price is $26.02. The stock has a market cap of $418.84 million, a PE ratio of -12.81 and a beta of 0.83.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its earnings results on Monday, April 27th. The bank reported $0.53 earnings per share (EPS) 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 business had revenue of $34.14 million during the quarter, compared to the consensus estimate of $33.87 million. As a group, analysts expect that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors have recently added to or reduced their stakes in BMRC. Wellington Management Group LLP boosted its holdings in Bank of Marin Bancorp by 268.7% in the third quarter. Wellington Management Group LLP now owns 943,534 shares of the bank's stock valued at $22,909,000 after acquiring an additional 687,615 shares during the last quarter. Heartland Advisors Inc. bought a new stake in Bank of Marin Bancorp in the fourth quarter valued at approximately $5,191,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Bank of Marin Bancorp by 85.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank's stock valued at $6,635,000 after acquiring an additional 125,816 shares during the last quarter. Westmount Partners LLC bought a new stake in Bank of Marin Bancorp in the fourth quarter valued at approximately $2,980,000. Finally, UBS Group AG boosted its holdings in Bank of Marin Bancorp by 143.9% in the third quarter. UBS Group AG now owns 166,615 shares of the bank's stock valued at $4,045,000 after acquiring an additional 98,311 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.