BidaskClub Upgrades Bank of Marin Bancorp (BMRC) to Hold

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, December 25th. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. DA Davidson reaffirmed a “hold” rating and set a $72.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, October 24th. Piper Jaffray Companies set a $72.00 price target on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a report on Tuesday, November 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $74.00 price target on shares of Bank of Marin Bancorp in a report on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Bank of Marin Bancorp currently has a consensus rating of “Hold” and an average price target of $74.75.

Bank of Marin Bancorp (NASDAQ:BMRC) opened at $66.70 on Friday. Bank of Marin Bancorp has a 52-week low of $59.05 and a 52-week high of $77.90. The stock has a market cap of $464.09, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

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 the Zacks’ consensus estimate of $0.86 by ($0.06). Bank of Marin Bancorp had a return on equity of 8.57% and a net margin of 18.83%. The business had revenue of $22.13 million for the quarter, compared to analyst estimates of $22.10 million. sell-side analysts expect that Bank of Marin Bancorp will post 4.05 earnings per share for the current year.

In other news, Director Leslie E. Murphy purchased 3,676 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 3,936 shares in the company, valued at approximately $267,648. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.17% of the company’s stock.

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Bank of Marin Bancorp in the 3rd quarter valued at approximately $113,000. Aperio Group LLC bought a new position in Bank of Marin Bancorp in the 3rd quarter valued at approximately $205,000. Cornerstone Capital Management Holdings LLC. lifted its stake in Bank of Marin Bancorp by 42.8% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 4,673 shares of the bank’s stock valued at $286,000 after purchasing an additional 1,400 shares during the last quarter. Maltese Capital Management LLC bought a new position in Bank of Marin Bancorp in the 4th quarter valued at approximately $340,000. Finally, First Manhattan Co. bought a new position in Bank of Marin Bancorp in the 4th quarter valued at approximately $342,000. 41.70% of the stock is owned by institutional investors and hedge funds.

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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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