Bank of Marin Bancorp (BMRC) Given “Hold” Rating at Piper Jaffray Companies

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “hold” rating restated by stock analysts at Piper Jaffray Companies in a research note issued on Tuesday, January 9th. They currently have a $75.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 4.90% from the company’s current price.

Several other research firms have also commented on BMRC. Zacks Investment Research lowered shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 26th. DA Davidson restated a “hold” rating and set a $72.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. BidaskClub raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $74.00 price objective on shares of Bank of Marin Bancorp in a report on Friday, December 22nd. Finally, ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Bank of Marin Bancorp presently has a consensus rating of “Hold” and an average target price of $73.80.

Shares of Bank of Marin Bancorp (NASDAQ BMRC) opened at $71.50 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 0.91. Bank of Marin Bancorp has a 52-week low of $59.05 and a 52-week high of $77.90. The company has a market cap of $433.70, a P/E ratio of 21.41, a P/E/G ratio of 1.66 and a beta of 0.80.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $20.85 million for the quarter, compared to analyst estimates of $20.71 million. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.85%. equities analysts forecast that Bank of Marin Bancorp will post 3.27 EPS for the current fiscal year.

In related news, Director Leslie E. Murphy purchased 3,676 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was acquired at an average cost of $68.00 per share, for a total transaction of $249,968.00. Following the completion of the transaction, the director now directly owns 3,936 shares in the company, valued at $267,648. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.17% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. lifted its stake in Bank of Marin Bancorp by 42.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 4,673 shares of the bank’s stock worth $286,000 after acquiring an additional 1,400 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Bank of Marin Bancorp by 33.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 12,100 shares of the bank’s stock worth $745,000 after buying an additional 3,000 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Bank of Marin Bancorp by 2,151.1% during the 2nd quarter. Advisor Group Inc. now owns 7,451 shares of the bank’s stock worth $459,000 after buying an additional 7,120 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $8,794,000. Finally, Prudential Financial Inc. lifted its position in shares of Bank of Marin Bancorp by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 46,892 shares of the bank’s stock worth $2,886,000 after buying an additional 620 shares during the last quarter. Institutional investors own 45.97% of the company’s stock.

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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. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

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