Piper Sandler Issues Positive Forecast for Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price

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

Other research analysts also recently issued 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 lifted their price target on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Marin Bancorp presently has an average rating of "Moderate Buy" and an average target price of $25.50.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock traded up $1.34 during trading on Wednesday, reaching $25.39. The company had a trading volume of 310,207 shares, compared to its average volume of 82,134. The firm's 50 day simple moving average is $21.66 and its two-hundred day simple moving average is $22.61. Bank of Marin Bancorp has a one year low of $15.93 and a one year high of $27.11. The company has a market capitalization of $411.83 million, a PE ratio of -63.48 and a beta of 0.86.

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

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, May 8th. Bank of Marin Bancorp's dividend payout ratio is currently -250.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Elizabeth Park Capital Advisors Ltd. bought a new position in Bank of Marin Bancorp in the 4th quarter worth approximately $5,680,000. Prudential Financial Inc. grew its holdings in shares of Bank of Marin Bancorp by 92.7% during the 4th quarter. Prudential Financial Inc. now owns 96,757 shares of the bank's stock worth $2,300,000 after purchasing an additional 46,536 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Bank of Marin Bancorp by 6,382.6% during the 1st quarter. GAMMA Investing LLC now owns 13,419 shares of the bank's stock worth $296,000 after purchasing an additional 13,212 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $1,374,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Bank of Marin Bancorp by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 655,514 shares of the bank's stock worth $15,582,000 after purchasing an additional 38,934 shares in the last quarter. 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.