Bank of Marin Bancorp (BMRC) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a hold rating in a report released on Tuesday.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Bank of Marin Bancorp from a hold rating to a buy rating and set a $97.00 price objective on the stock in a research note on Wednesday, July 25th. ValuEngine cut Bank of Marin Bancorp from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies set a $86.00 price objective on Bank of Marin Bancorp and gave the stock a hold rating in a research note on Tuesday, July 24th. Sandler O’Neill reiterated a hold rating and issued a $88.00 price target on shares of Bank of Marin Bancorp in a research note on Monday, July 23rd. Finally, DA Davidson boosted their price target on Bank of Marin Bancorp to $88.00 and gave the stock a neutral rating in a research note on Tuesday, July 24th. Seven analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average target price of $86.60.

Shares of BMRC traded up $0.34 during midday trading on Tuesday, reaching $78.92. 29,534 shares of the company were exchanged, compared to its average volume of 19,845. The stock has a market cap of $586.75 million, a PE ratio of 24.06, a P/E/G ratio of 1.92 and a beta of 0.70. Bank of Marin Bancorp has a 1-year low of $63.50 and a 1-year high of $90.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.86 and a quick ratio of 0.86.

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

In related news, insider Russell A. Colombo sold 400 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $87.65, for a total value of $35,060.00. Following the transaction, the insider now owns 33,893 shares in the company, valued at $2,970,721.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter Pelham sold 1,672 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the transaction, the insider now owns 9,556 shares in the company, valued at approximately $845,132.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,825 shares of company stock worth $338,633. Insiders own 5.17% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BMRC. Russell Investments Group Ltd. raised its stake in 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 valued at $1,214,000 after buying an additional 877 shares in the last quarter. Confluence Investment Management LLC raised its stake in 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 valued at $5,842,000 after buying an additional 1,265 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in 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 valued at $971,000 after buying an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $3,080,000 after buying an additional 1,679 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Bank of Marin Bancorp by 10.2% during the first quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock valued at $1,270,000 after buying an additional 1,705 shares in the last quarter. Institutional investors and hedge funds own 44.52% of the company’s stock.

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.

Read More: The Discount Rate – What You Need to Know

Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply