Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $85.40.
BMRC has been the topic of a number of research analyst reports. BidaskClub upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Wednesday, July 25th. ValuEngine upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Jaffray Companies set a $86.00 price objective on Bank of Marin Bancorp and gave the company a “hold” rating in a research note on Tuesday, July 24th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $88.00 price objective on shares of Bank of Marin Bancorp in a research note on Monday, July 23rd.
In related news, insider Peter Pelham sold 1,672 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $88.44, for a total value of $147,871.68. Following the transaction, the insider now owns 9,556 shares in the company, valued at $845,132.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.17% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Swiss National Bank purchased a new position in Bank of Marin Bancorp in the second quarter valued at approximately $889,000. John W. Rosenthal Capital Management Inc. lifted its stake in Bank of Marin Bancorp by 5.7% in the second quarter. John W. Rosenthal Capital Management Inc. now owns 32,500 shares of the bank’s stock valued at $2,628,000 after purchasing an additional 1,750 shares during the last quarter. California Public Employees Retirement System lifted its stake in Bank of Marin Bancorp by 10.2% in the first quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 1,705 shares during the last quarter. First Trust Advisors LP lifted its stake in Bank of Marin Bancorp by 29.2% in the second quarter. First Trust Advisors LP now owns 16,124 shares of the bank’s stock valued at $1,304,000 after purchasing an additional 3,646 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bank of Marin Bancorp by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 190,824 shares of the bank’s stock valued at $15,428,000 after purchasing an additional 27,399 shares during the last quarter. Institutional investors and hedge funds own 44.57% of the company’s stock.
Shares of NASDAQ BMRC traded up $3.04 during midday trading on Monday, reaching $86.09. The company’s stock had a trading volume of 20,193 shares, compared to its average volume of 14,036. Bank of Marin Bancorp has a 12-month low of $63.50 and a 12-month high of $90.85. The company has a market capitalization of $594.37 million, a PE ratio of 26.25, a PEG ratio of 2.69 and a beta of 0.61. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.02.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 22nd. The bank reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Bank of Marin Bancorp had a return on equity of 9.40% and a net margin of 24.21%. The firm had revenue of $25.78 million for the quarter, compared to the consensus estimate of $25.33 million. As a group, research analysts expect that Bank of Marin Bancorp will post 4.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Thursday, November 1st will be paid a $0.35 dividend. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, October 31st. This represents a $1.40 annualized dividend and a yield of 1.63%. Bank of Marin Bancorp’s dividend payout ratio is presently 42.68%.
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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