Bank of Marin Bancorp’s (NASDAQ:BMRC) Hold Rating Reiterated at Piper Jaffray Companies

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “hold” rating reiterated by equities research analysts at Piper Jaffray Companies in a report released on Tuesday, January 9th. They currently have a $75.00 price target on the bank’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 9.33% from the company’s previous close.

A number of other analysts have also recently weighed in on BMRC. ValuEngine raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a research note on Wednesday, October 25th. DA Davidson reissued a “hold” rating and set a $72.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $74.00 target price on shares of Bank of Marin Bancorp in a research note on Friday, December 22nd. Finally, BidaskClub downgraded Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $74.75.

Shares of Bank of Marin Bancorp (BMRC) opened at $68.60 on Tuesday. The stock has a market capitalization of $474.81, a PE ratio of 21.04, a P/E/G ratio of 1.54 and a beta of 0.76. 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 1 year low of $59.05 and a 1 year high of $77.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Bank of Marin Bancorp had a net margin of 18.83% and a return on equity of 8.57%. The firm had revenue of $22.13 million during the quarter, compared to analyst estimates of $22.10 million. research analysts anticipate that Bank of Marin Bancorp will post 4.05 earnings per share for the current year.

In related news, Director Leslie E. Murphy purchased 3,676 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was bought at an average price of $68.00 per share, with a total value of $249,968.00. Following the completion of the transaction, the director now owns 3,936 shares of the company’s stock, valued at approximately $267,648. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.17% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. boosted its holdings in Bank of Marin Bancorp by 42.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 4,673 shares of the bank’s stock valued at $286,000 after acquiring an additional 1,400 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Bank of Marin Bancorp by 33.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 12,100 shares of the bank’s stock valued at $745,000 after acquiring an additional 3,000 shares during the last quarter. Advisor Group Inc. boosted its holdings in Bank of Marin Bancorp by 2,151.1% in the second quarter. Advisor Group Inc. now owns 7,451 shares of the bank’s stock valued at $459,000 after acquiring an additional 7,120 shares during the last quarter. Sei Investments Co. acquired a new position in Bank of Marin Bancorp in the third quarter valued at $8,794,000. Finally, Prudential Financial Inc. boosted its holdings in Bank of Marin Bancorp by 1.3% in the second quarter. Prudential Financial Inc. now owns 46,892 shares of the bank’s stock valued at $2,886,000 after acquiring an additional 620 shares during the last quarter. Institutional investors and hedge funds own 41.47% of the company’s stock.

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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. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

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