Bank of Marin Bancorp (BMRC) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a hold rating in a research report released on Saturday.

A number of other research analysts have also weighed in on the company. Piper Jaffray Companies set a $86.00 target price on Bank of Marin Bancorp and gave the company a hold rating in a report on Tuesday, July 24th. DA Davidson lifted their target price on Bank of Marin Bancorp to $88.00 and gave the company a neutral rating in a report on Tuesday, July 24th. Zacks Investment Research raised Bank of Marin Bancorp from a hold rating to a buy rating and set a $97.00 target price for the company in a report on Monday, June 25th. Finally, Sandler O’Neill reaffirmed a hold rating and set a $88.00 target price on shares of Bank of Marin Bancorp in a report on Monday, July 23rd. Five equities research analysts have rated the stock with 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 a consensus price target of $86.60.

Shares of Bank of Marin Bancorp stock opened at $86.45 on Friday. Bank of Marin Bancorp has a 52-week low of $63.50 and a 52-week high of $90.85. The stock has a market capitalization of $610.18 million, a P/E ratio of 26.36, a PEG ratio of 2.00 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 23rd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.10. Bank of Marin Bancorp had a return on equity of 8.79% and a net margin of 21.77%. The business had revenue of $25.08 million for the quarter, compared to analysts’ expectations of $24.61 million. sell-side analysts forecast that Bank of Marin Bancorp will post 4.37 EPS for the current year.

In other Bank of Marin Bancorp news, EVP Elizabeth Reizman sold 1,753 shares of Bank of Marin Bancorp stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.82, for a total transaction of $155,701.46. Following the completion of the transaction, the executive vice president now owns 3,995 shares of the company’s stock, valued at approximately $354,835.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Pelham sold 1,672 shares of Bank of Marin Bancorp stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the transaction, the insider now directly owns 9,556 shares of the company’s stock, valued at approximately $845,132.64. The disclosure for this sale can be found here. Insiders have sold a total of 3,825 shares of company stock valued at $338,633 in the last ninety days. Insiders own 5.17% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BMRC. Russell Investments Group Ltd. grew its holdings in shares of Bank of Marin Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 17,603 shares of the bank’s stock worth $1,214,000 after purchasing an additional 877 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Bank of Marin Bancorp by 1.8% during the second quarter. Confluence Investment Management LLC now owns 72,262 shares of the bank’s stock worth $5,842,000 after purchasing an additional 1,265 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Bank of Marin Bancorp by 11.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 14,071 shares of the bank’s stock worth $971,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bank of Marin Bancorp by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 38,086 shares of the bank’s stock worth $3,080,000 after purchasing an additional 1,679 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in shares of Bank of Marin Bancorp by 83.2% during the first quarter. ClariVest Asset Management LLC now owns 3,723 shares of the bank’s stock worth $257,000 after purchasing an additional 1,691 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About Bank of Marin Bancorp

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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