Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bank of Marin Bancorp (NASDAQ:BMRC) Stock

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $26.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 5.06% from the stock's previous close.

Separately, Stephens reaffirmed an "overweight" rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $25.50.

Bank of Marin Bancorp Trading Up 1.2%

Shares of BMRC traded up $0.31 during midday trading on Wednesday, reaching $25.70. The stock had a trading volume of 128,459 shares, compared to its average volume of 82,460. The firm has a market cap of $416.85 million, a PE ratio of -64.25 and a beta of 0.86. The firm has a 50 day simple moving average of $21.85 and a 200-day simple moving average of $22.62. Bank of Marin Bancorp has a one year low of $15.93 and a one year high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). Bank of Marin Bancorp had a positive return on equity of 3.77% and a negative net margin of 4.20%. The business had revenue of $35.24 million for the quarter, compared to the consensus estimate of $27.99 million. As a group, research analysts forecast that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Bank of Marin Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 836,427 shares of the bank's stock valued at $18,460,000 after purchasing an additional 10,250 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Bank of Marin Bancorp by 7.0% in the first quarter. Alliancebernstein L.P. now owns 701,534 shares of the bank's stock valued at $15,483,000 after buying an additional 46,020 shares in the last quarter. North Reef Capital Management LP grew its position in Bank of Marin Bancorp by 45.8% in the fourth quarter. North Reef Capital Management LP now owns 470,956 shares of the bank's stock valued at $11,195,000 after acquiring an additional 148,020 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Bank of Marin Bancorp by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 467,373 shares of the bank's stock worth $11,109,000 after acquiring an additional 4,101 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in Bank of Marin Bancorp during the fourth quarter worth about $5,680,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Bank of Marin Bancorp Company Profile

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.