Stephens Reaffirms Equal Weight Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Key Points

• Stephens reaffirmed an "Equal Weight" rating on Bank of Marin with a $26.00 price target, implying only about a 0.15% upside from the prior close.
• Analyst views are mixed but the consensus is an average "Hold" with an average price target of $28.40 (ratings split: 2 Buys, 3 Holds, 1 Sell), and several firms have recently cut targets or downgraded the stock.
• In the latest quarter the bank reported $0.53 EPS (missing the $0.56 estimate) and a negative net margin of 18.58%; the stock traded around $25.96 with a market cap of $420.3M and a negative P/E of -12.87.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s stock had its "equal weight" rating restated by equities research analysts at Stephens in a research note issued on Tuesday. They currently have a $26.00 price objective on the bank's stock. Stephens' price target would suggest a potential upside of 0.15% from the company's previous close.

Several other brokerages have also recently issued reports on BMRC. Zacks Research cut shares of Bank of Marin Bancorp from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 29th. DA Davidson dropped their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Wall Street Zen lowered Bank of Marin Bancorp from a "sell" rating to a "strong sell" rating in a research note on Saturday. Weiss Ratings raised Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.40.

Bank of Marin Bancorp Trading Up 0.7%

Shares of Bank of Marin Bancorp stock traded up $0.18 on Tuesday, hitting $25.96. The stock had a trading volume of 23,161 shares, compared to its average volume of 106,139. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a one year low of $20.25 and a one year high of $28.48. The stock has a market cap of $420.29 million, a price-to-earnings ratio of -12.87 and a beta of 0.82. The stock's 50-day simple moving average is $25.47 and its two-hundred day simple moving average is $26.05.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last issued its earnings results on Monday, April 27th. The bank reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). Bank of Marin Bancorp had a positive return on equity of 7.07% and a negative net margin of 18.58%.The firm had revenue of $34.14 million during the quarter, compared to the consensus estimate of $33.87 million. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 2.21 EPS for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. Torren Management LLC purchased a new position in Bank of Marin Bancorp during the fourth quarter valued at $31,000. Russell Investments Group Ltd. boosted its holdings in shares of Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank's stock valued at $31,000 after buying an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after buying an additional 379 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Bank of Marin Bancorp by 124.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank's stock worth $43,000 after buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Bank of Marin Bancorp by 88.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank's stock worth $70,000 after buying an additional 1,356 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company's core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.