Bank of Marin Bancorp (BMRC) Raised to Buy at BidaskClub

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also weighed in on the stock. Sandler O’Neill reiterated a “hold” rating and issued a $88.00 price objective on shares of Bank of Marin Bancorp in a research report on Monday, July 23rd. DA Davidson lifted their price objective on shares of Bank of Marin Bancorp to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $86.00 price objective on shares of Bank of Marin Bancorp and gave the company a “hold” rating in a research report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Wednesday, July 25th. Finally, ValuEngine lowered shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $85.40.

Shares of BMRC opened at $84.99 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $572.27 million, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.64 and a beta of 0.70. Bank of Marin Bancorp has a 12-month low of $63.50 and a 12-month high of $90.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 22nd. The bank reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. The business had revenue of $25.78 million for the quarter, compared to analyst estimates of $25.33 million. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.40%. Analysts anticipate that Bank of Marin Bancorp will post 4.51 earnings per share for the current year.

In related news, insider Peter Pelham sold 1,672 shares of Bank of Marin Bancorp stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the transaction, the insider now directly owns 9,556 shares in the company, valued at approximately $845,132.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.17% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth $889,000. John W. Rosenthal Capital Management Inc. boosted its position in shares of Bank of Marin Bancorp by 5.7% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 32,500 shares of the bank’s stock worth $2,628,000 after purchasing an additional 1,750 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Bank of Marin Bancorp by 10.2% during the 1st quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock worth $1,270,000 after purchasing an additional 1,705 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Bank of Marin Bancorp by 29.2% during the 2nd quarter. First Trust Advisors LP now owns 16,124 shares of the bank’s stock worth $1,304,000 after purchasing an additional 3,646 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Bank of Marin Bancorp by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 38,086 shares of the bank’s stock worth $3,080,000 after purchasing an additional 1,679 shares in the last quarter. Institutional investors own 44.57% 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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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