Bank of Marin Bancorp (NASDAQ:BMRC) – Analysts at Piper Jaffray Companies dropped their FY2018 earnings per share (EPS) estimates for Bank of Marin Bancorp in a report issued on Thursday, November 1st. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will post earnings of $4.45 per share for the year, down from their previous forecast of $4.54. Piper Jaffray Companies has a “Hold” rating and a $86.00 price target on the stock. Piper Jaffray Companies also issued estimates for Bank of Marin Bancorp’s Q4 2018 earnings at $1.19 EPS.
Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Wednesday, October 24th. Finally, DA Davidson increased their target price on shares of Bank of Marin Bancorp to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bank of Marin Bancorp presently has an average rating of “Hold” and an average price target of $85.40.
Shares of BMRC stock opened at $85.20 on Monday. The stock has a market capitalization of $602.07 million, a PE ratio of 25.98, a PEG ratio of 2.74 and a beta of 0.62. 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 has a one year low of $63.50 and a one year high of $90.85.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 22nd. The bank reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $25.78 million for the quarter, compared to the consensus estimate of $25.33 million. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.40%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, November 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.64%. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. Bank of Marin Bancorp’s dividend payout ratio is currently 42.68%.
In other news, insider Peter Pelham sold 1,672 shares of the 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 completion of the sale, the insider now owns 9,556 shares in the company, valued at $845,132.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Bank of Marin Bancorp by 3.8% during the second quarter. BlackRock Inc. now owns 561,294 shares of the bank’s stock worth $45,381,000 after buying an additional 20,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of Marin Bancorp by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 190,824 shares of the bank’s stock worth $15,428,000 after buying an additional 27,399 shares during the last quarter. Northern Trust Corp increased its holdings in Bank of Marin Bancorp by 6.0% during the second quarter. Northern Trust Corp now owns 87,460 shares of the bank’s stock worth $7,071,000 after buying an additional 4,956 shares during the last quarter. Millennium Management LLC increased its holdings in Bank of Marin Bancorp by 7.7% during the first quarter. Millennium Management LLC now owns 82,912 shares of the bank’s stock worth $5,717,000 after buying an additional 5,950 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Bank of Marin Bancorp by 1.4% during the third quarter. Confluence Investment Management LLC now owns 73,284 shares of the bank’s stock worth $6,149,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 44.74% 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.
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