DA Davidson reissued their hold rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a report published on Tuesday, October 24th. DA Davidson currently has a $72.00 target price on the bank’s stock. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2017 earnings at $3.20 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.82 EPS, Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.86 EPS and FY2019 earnings at $3.65 EPS.
Several other research firms have also recently commented on BMRC. Piper Jaffray Companies set a $68.00 price target on Bank of Marin Bancorp and gave the company a hold rating in a report on Sunday, July 30th. BidaskClub lowered Bank of Marin Bancorp from a buy rating to a hold rating in a report on Tuesday, July 25th. Zacks Investment Research lowered Bank of Marin Bancorp from a buy rating to a hold rating in a report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $68.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $71.80.
Shares of Bank of Marin Bancorp (NASDAQ BMRC) opened at $65.60 on Tuesday. The stock has a market capitalization of $405.28, a P/E ratio of 19.35, a P/E/G ratio of 1.80 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 has a 12 month low of $57.00 and a 12 month high of $75.05.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 23rd. The bank reported $0.83 earnings per share 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 analysts’ expectations of $20.71 million. Bank of Marin Bancorp had a return on equity of 8.85% and a net margin of 24.74%. equities analysts forecast that Bank of Marin Bancorp will post 3.31 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, November 3rd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, November 2nd. Bank of Marin Bancorp’s payout ratio is 34.73%.
Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Bank of Marin Bancorp by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 244,158 shares of the bank’s stock worth $15,028,000 after acquiring an additional 4,688 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Bank of Marin Bancorp by 5.0% in the second quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after acquiring an additional 10,713 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Bank of Marin Bancorp in the third quarter valued at approximately $8,794,000. Renaissance Technologies LLC increased its stake in shares of Bank of Marin Bancorp by 6.2% in the first quarter. Renaissance Technologies LLC now owns 123,800 shares of the bank’s stock valued at $7,967,000 after purchasing an additional 7,280 shares during the period. Finally, State Street Corp increased its stake in shares of Bank of Marin Bancorp by 0.4% during 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 period. 42.22% of the stock is currently owned by institutional investors and hedge funds.
About Bank of Marin Bancorp
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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