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

Key Points

• Bank of Marin Bancorp has a consensus “Hold” rating from seven analysts: five rate it Hold and two rate it Buy. The average 12-month price target is $31.50, compared with a recent share price of $28.40.
• Institutional investors and hedge funds own 52.26% of the stock, with recent purchases by BlackRock, Heartland Advisors and Algebris UK, among others.
• The bank exceeded quarterly earnings expectations, reporting $0.58 in EPS versus a $0.52 estimate, and maintains a quarterly dividend of $0.25, equivalent to a 3.5% annualized yield.

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

BMRC has been the subject of several recent research reports. Stephens set a $30.00 price target on Bank of Marin Bancorp and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Piper Sandler reissued a "neutral" rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a research report on Friday, July 31st. Finally, Brean Capital lowered shares of Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 28th.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Bank of Marin Bancorp during the second quarter valued at approximately $44,326,000. Dimensional Fund Advisors LP lifted its stake in shares of Bank of Marin Bancorp by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank's stock worth $20,577,000 after buying an additional 32,048 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Bank of Marin Bancorp by 1.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank's stock worth $11,759,000 after buying an additional 8,758 shares during the period. Heartland Advisors Inc. acquired a new position in Bank of Marin Bancorp in the 2nd quarter valued at $9,017,000. Finally, Algebris UK Ltd. bought a new position in Bank of Marin Bancorp in the 2nd quarter worth $8,092,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $28.40 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 1 year low of $22.50 and a 1 year high of $30.92. The business has a fifty day simple moving average of $28.08 and a 200 day simple moving average of $26.67. The firm has a market cap of $459.80 million, a price-to-earnings ratio of -31.21 and a beta of 0.78.

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

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp's payout ratio is presently -109.89%.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.

Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.

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