BidaskClub lowered shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a strong sell rating in a research note published on Friday.
Several other equities analysts have also recently weighed in on the company. Piper Jaffray Companies set a $72.00 price objective on Bank of Marin Bancorp and gave the company a hold rating in a report on Tuesday, November 28th. Zacks Investment Research cut Bank of Marin Bancorp from a strong-buy rating to a hold rating in a report on Thursday, October 26th. DA Davidson restated a hold rating and issued a $72.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, October 24th. Keefe, Bruyette & Woods restated a hold rating and issued a $74.00 price objective on shares of Bank of Marin Bancorp in a report on Friday, December 22nd. Finally, ValuEngine upgraded Bank of Marin Bancorp from a hold rating to a buy rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Bank of Marin Bancorp has an average rating of Hold and an average price target of $73.20.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up $0.75 during midday trading on Friday, hitting $67.85. The stock had a trading volume of 21,300 shares, compared to its average volume of 18,625. The company has a market cap of $419.18, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. Bank of Marin Bancorp has a 12 month low of $59.05 and a 12 month high of $77.90.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company 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%. sell-side analysts anticipate that Bank of Marin Bancorp will post 3.27 earnings per share for the current fiscal year.
In other Bank of Marin Bancorp news, Director Leslie E. Murphy purchased 3,676 shares of Bank of Marin Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average price of $68.00 per share, for a total transaction of $249,968.00. Following the completion of the acquisition, the director now owns 3,936 shares of the company’s stock, valued at approximately $267,648. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in Bank of Marin Bancorp by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 244,158 shares of the bank’s stock worth $15,028,000 after purchasing an additional 4,688 shares during the period. Vanguard Group Inc. grew its holdings in Bank of Marin Bancorp by 5.0% during the second quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after purchasing an additional 10,713 shares during the period. Sei Investments Co. bought a new position in Bank of Marin Bancorp during the third quarter worth about $8,794,000. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 37.4% during the third quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock worth $7,660,000 after purchasing an additional 30,461 shares during the period. Finally, State Street Corp grew its holdings in Bank of Marin Bancorp by 0.4% during the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after purchasing an additional 396 shares during the period. Institutional investors and hedge funds own 45.95% of the company’s stock.
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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. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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