Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Zacks Investment Research

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, October 25th. The brokerage presently has a $81.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 23.48% from the company’s previous close.

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



A number of other equities analysts also recently commented on the company. BidaskClub upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price objective on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. Piper Jaffray Companies set a $68.00 price objective on Bank of Marin Bancorp and gave the stock a “hold” rating in a research report on Sunday, July 30th. Finally, DA Davidson reiterated a “hold” rating and set a $72.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Bank of Marin Bancorp has a consensus rating of “Hold” and an average target price of $71.80.

Shares of Bank of Marin Bancorp (BMRC) traded up $0.65 during trading on Wednesday, reaching $65.60. The company had a trading volume of 10,400 shares, compared to its average volume of 19,061. Bank of Marin Bancorp has a 52-week low of $57.00 and a 52-week high of $75.05. The stock has a market capitalization of $401.26, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. Bank of Marin Bancorp had a return on equity of 8.85% and a net margin of 24.74%. The firm had revenue of $20.85 million for the quarter, compared to the consensus estimate of $20.71 million. equities analysts predict that Bank of Marin Bancorp will post 3.31 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of the business. Prudential Financial Inc. raised its position in Bank of Marin Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 46,272 shares of the bank’s stock valued at $2,978,000 after purchasing an additional 140 shares during the period. Bank of America Corp DE raised 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 purchasing an additional 206 shares during the period. American International Group Inc. raised its position in Bank of Marin Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock valued at $236,000 after purchasing an additional 240 shares during the period. Context BH Capital Management LP raised 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 purchasing an additional 300 shares during the period. Finally, State Street Corp raised 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 purchasing an additional 396 shares during the period. Institutional investors own 42.22% of the company’s stock.

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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