Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Raised to $25.00 at Piper Sandler

Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) had its target price increased by Piper Sandler from $21.00 to $25.00 in a report issued on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the bank's stock.

Other analysts also recently issued research reports about the company. Stephens reissued an "overweight" rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods boosted their price objective on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to 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 Price Performance

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. Bank of Marin Bancorp has a 52 week low of $15.93 and a 52 week high of $27.11. The firm's 50 day moving average price is $21.85 and its 200-day moving average price is $22.62. The company has a market capitalization of $416.85 million, a P/E ratio of -64.25 and a beta of 0.86.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $35.24 million during the quarter, compared to the consensus estimate of $27.99 million. On average, equities analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 8th. Bank of Marin Bancorp's dividend payout ratio is presently -250.00%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Bank of Marin Bancorp by 157.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock worth $26,000 after acquiring an additional 663 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Bank of Marin Bancorp by 100.0% in 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 lifted its holdings in shares of Bank of Marin Bancorp by 29.7% in 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. Jones Financial Companies Lllp lifted its holdings in shares of 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 valued at $186,000 after purchasing an additional 8,242 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at $200,000. 52.26% of the stock is owned by institutional investors.

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.