Bank of Marin Bancorp (BMRC) Stock Rating Upgraded by BidaskClub

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other analysts also recently commented on BMRC. Sandler O’Neill reiterated a “hold” rating and issued a $88.00 price objective on shares of Bank of Marin Bancorp in a research report on Monday, July 23rd. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Wednesday, July 25th. DA Davidson raised their price objective on Bank of Marin Bancorp to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $86.00 price objective on Bank of Marin Bancorp and gave the stock a “hold” rating in a research report on Tuesday, July 24th. Finally, ValuEngine downgraded Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $85.40.

NASDAQ:BMRC traded up $3.04 during mid-day trading on Thursday, hitting $86.09. 20,193 shares of the company’s stock traded hands, 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 cap of $594.37 million, a price-to-earnings 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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $25.33 million. Analysts anticipate that Bank of Marin Bancorp will post 4.51 EPS for the current year.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 1,672 shares of the firm’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 completion of the sale, the insider now owns 9,556 shares in the company, valued at approximately $845,132.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.17% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of BMRC. Schwab Charles Investment Management Inc. raised its holdings in shares of Bank of Marin Bancorp by 11.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 14,071 shares of the bank’s stock worth $971,000 after buying an additional 1,500 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Bank of Marin Bancorp by 2.9% in the 1st quarter. BlackRock Inc. now owns 540,944 shares of the bank’s stock worth $37,298,000 after buying an additional 15,449 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Bank of Marin Bancorp by 10.2% in the 1st quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock worth $1,270,000 after buying an additional 1,705 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bank of Marin Bancorp by 19.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 163,425 shares of the bank’s stock worth $11,268,000 after buying an additional 26,488 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Bank of Marin Bancorp by 5.2% in the 1st quarter. Russell Investments Group Ltd. now owns 17,603 shares of the bank’s stock worth $1,214,000 after buying an additional 877 shares in the last quarter. 44.57% 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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