Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, October 25th. The brokerage presently has a $81.00 target price on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 23.48% from the company’s current price.
According to Zacks, “Bank of Marin is a California State chartered bank. “
Several other equities research analysts have also issued reports on BMRC. DA Davidson reissued a “hold” rating and issued a $72.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $68.00 price target on shares of Bank of Marin Bancorp and gave the company a “hold” rating in a report on Sunday, July 30th. BidaskClub lowered shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $71.80.
Shares of Bank of Marin Bancorp (NASDAQ BMRC) traded up $0.65 on Wednesday, hitting $65.60. 10,400 shares of the company traded hands, compared to its average volume of 24,928. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $405.28, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. Bank of Marin Bancorp has a fifty-two week low of $57.00 and a fifty-two week high of $75.05.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.85%. The company had revenue of $20.85 million for the quarter, compared to the consensus estimate of $20.71 million. equities research analysts expect that Bank of Marin Bancorp will post 3.31 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. Prudential Financial Inc. lifted its position in Bank of Marin Bancorp by 0.3% in the 1st quarter. Prudential Financial Inc. now owns 46,272 shares of the bank’s stock valued at $2,978,000 after purchasing an additional 140 shares during the last quarter. Bank of America Corp DE increased its stake in Bank of Marin Bancorp by 13.9% during the 1st quarter. Bank of America Corp DE now owns 1,684 shares of the bank’s stock valued at $108,000 after buying an additional 206 shares during the period. American International Group Inc. increased its stake in Bank of Marin Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock valued at $236,000 after buying an additional 240 shares during the period. Context BH Capital Management LP increased its stake in Bank of Marin Bancorp by 3.2% during the 2nd quarter. Context BH Capital Management LP now owns 9,720 shares of the bank’s stock valued at $598,000 after buying an additional 300 shares during the period. Finally, State Street Corp increased its stake in Bank of Marin Bancorp by 0.4% during the 2nd quarter. State Street Corp now owns 102,879 shares of the bank’s stock valued at $6,328,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 42.22% of the company’s stock.
About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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