Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.67.
A number of research analysts have recently weighed in on BMRC shares. BidaskClub raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 13th. Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, DA Davidson increased their target price on shares of Bank of Marin Bancorp to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, April 24th.
BMRC stock traded down $1.40 during trading on Monday, reaching $75.30. The stock had a trading volume of 15,796 shares, compared to its average volume of 19,584. Bank of Marin Bancorp has a one year low of $75.10 and a one year high of $75.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.86. The company has a market capitalization of $534.97 million, a price-to-earnings ratio of 22.96, a PEG ratio of 1.68 and a beta of 0.70.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 23rd. The bank reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). Bank of Marin Bancorp had a net margin of 19.93% and a return on equity of 8.30%. The company had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.27 million. sell-side analysts forecast that Bank of Marin Bancorp will post 4.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, May 4th were given a dividend of $0.31 per share. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, May 3rd. Bank of Marin Bancorp’s dividend payout ratio is currently 37.80%.
In other news, CEO Russell A. Colombo sold 911 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $68.00, for a total transaction of $61,948.00. Following the completion of the transaction, the chief executive officer now directly owns 26,133 shares of the company’s stock, valued at approximately $1,777,044. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,127 shares of company stock valued at $78,217 over the last three months. Insiders own 5.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Bank of Marin Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 245,277 shares of the bank’s stock valued at $16,678,000 after acquiring an additional 771 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Bank of Marin Bancorp by 5.2% during the 1st quarter. Russell Investments Group Ltd. now owns 17,603 shares of the bank’s stock valued at $1,214,000 after buying an additional 877 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Bank of Marin Bancorp by 9.7% during the 4th quarter. California State Teachers Retirement System now owns 10,603 shares of the bank’s stock valued at $721,000 after buying an additional 938 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Bank of Marin Bancorp by 16.6% during the 3rd quarter. New York State Common Retirement Fund now owns 8,513 shares of the bank’s stock valued at $583,000 after buying an additional 1,213 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Bank of Marin Bancorp by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 68,392 shares of the bank’s stock valued at $4,651,000 after buying an additional 1,373 shares in the last quarter. 42.11% of the stock is owned by hedge funds and other institutional investors.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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