Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Raised to $27.00

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) had its price target raised by research analysts at Keefe, Bruyette & Woods from $26.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 5.06% from the stock's current price.

Separately, Stephens reaffirmed an "overweight" rating and set a $26.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of Marin Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $25.50.

Bank of Marin Bancorp Trading Up 1.2%

Shares of BMRC stock traded up $0.31 on Wednesday, reaching $25.70. 128,459 shares of the company's stock were exchanged, compared to its average volume of 82,460. The company's fifty day simple moving average is $21.76 and its 200 day simple moving average is $22.61. Bank of Marin Bancorp has a 52 week low of $15.93 and a 52 week high of $27.11. The stock has a market capitalization of $416.85 million, a PE ratio of -64.25 and a beta of 0.86.

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

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of Bank of Marin Bancorp by 157.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock valued at $26,000 after acquiring an additional 663 shares during the period. Golden State Wealth Management LLC boosted its position in Bank of Marin Bancorp by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank's stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC boosted its position in Bank of Marin Bancorp by 29.7% during the first quarter. CWM LLC now owns 2,753 shares of the bank's stock valued at $61,000 after purchasing an additional 630 shares in the last quarter. Wulff Hansen & CO. purchased a new position in Bank of Marin Bancorp in the fourth quarter valued at about $200,000. Finally, Jones Financial Companies Lllp raised its holdings in Bank of Marin Bancorp by 4,337.9% in the first quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank's stock worth $186,000 after purchasing an additional 8,242 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

About Bank of Marin Bancorp

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.