Bank of Marin Bancorp (BMRC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a sell rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

Other equities research analysts also recently issued research reports about the company. BidaskClub raised Bank of Marin Bancorp from a strong sell rating to a sell rating in a research report on Monday, April 1st. ValuEngine raised Bank of Marin Bancorp from a sell rating to a hold rating in a research report on Friday, January 4th. Finally, DA Davidson reaffirmed a neutral rating on shares of Bank of Marin Bancorp in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of Hold and an average price target of $44.75.

Shares of BMRC stock opened at $42.80 on Thursday. Bank of Marin Bancorp has a 1-year low of $35.66 and a 1-year high of $45.42. The stock has a market cap of $590.51 million, a P/E ratio of 18.37, a P/E/G ratio of 2.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.84 and a current ratio of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.11). Bank of Marin Bancorp had a net margin of 31.44% and a return on equity of 10.88%. The company had revenue of $25.62 million for the quarter, compared to the consensus estimate of $26.39 million. On average, equities analysts anticipate that Bank of Marin Bancorp will post 2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, May 2nd. Bank of Marin Bancorp’s payout ratio is currently 32.62%.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $41.91, for a total value of $335,280.00. Following the completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at $800,900.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth Reizman sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $41.46, for a total value of $41,460.00. Following the completion of the sale, the executive vice president now directly owns 7,990 shares of the company’s stock, valued at approximately $331,265.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,488 shares of company stock worth $817,294. 5.17% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC boosted its holdings in Bank of Marin Bancorp by 59.9% in the fourth quarter. Advisory Services Network LLC now owns 606 shares of the bank’s stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Advisor Group Inc. boosted its holdings in Bank of Marin Bancorp by 392.2% in the fourth quarter. Advisor Group Inc. now owns 1,132 shares of the bank’s stock worth $47,000 after acquiring an additional 902 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Bank of Marin Bancorp by 5,022.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,793 shares of the bank’s stock worth $71,000 after acquiring an additional 1,758 shares in the last quarter. Legal & General Group Plc boosted its holdings in Bank of Marin Bancorp by 128.4% in the fourth quarter. Legal & General Group Plc now owns 2,430 shares of the bank’s stock worth $100,000 after acquiring an additional 1,366 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Bank of Marin Bancorp by 261.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,849 shares of the bank’s stock worth $116,000 after acquiring an additional 2,060 shares in the last quarter. 43.16% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

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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