Bank of Marin Bancorp (BMRC) Rating Increased to Hold at BidaskClub

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other equities analysts also recently commented on the stock. Piper Jaffray Companies set a $72.00 price target on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, DA Davidson restated a “hold” rating and issued a $72.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.60.

Bank of Marin Bancorp (NASDAQ:BMRC) traded down $0.55 during trading hours on Wednesday, hitting $69.45. 39,300 shares of the company’s stock traded hands, compared to its average volume of 19,551. The firm has a market capitalization of $432.46, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 1.94 and a beta of 0.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a fifty-two week low of $59.05 and a fifty-two week high of $77.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $20.71 million. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.85%. research analysts expect that Bank of Marin Bancorp will post 3.27 earnings per share for the current fiscal year.

In other news, Director Leslie E. Murphy acquired 3,676 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $68.00 per share, with a total value of $249,968.00. Following the transaction, the director now owns 3,936 shares in the company, valued at $267,648. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.17% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Bank of Marin Bancorp by 13.9% in the first quarter. Bank of America Corp DE now owns 1,684 shares of the bank’s stock valued at $108,000 after acquiring an additional 206 shares during the last quarter. Context BH Capital Management LP lifted its position in Bank of Marin Bancorp by 3.2% in the second quarter. Context BH Capital Management LP now owns 9,720 shares of the bank’s stock valued at $598,000 after acquiring an additional 300 shares during the last quarter. State Street Corp lifted its position in Bank of Marin Bancorp by 0.4% in the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock valued at $6,328,000 after acquiring an additional 396 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Bank of Marin Bancorp by 0.8% in the second quarter. Mutual of America Capital Management LLC now owns 63,259 shares of the bank’s stock valued at $3,894,000 after acquiring an additional 532 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in Bank of Marin Bancorp by 6.9% in the second quarter. Nationwide Fund Advisors now owns 9,482 shares of the bank’s stock valued at $584,000 after acquiring an additional 611 shares during the last quarter. 45.17% of the stock is owned by institutional investors and hedge funds.

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Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

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