Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other research analysts have also issued reports on BMRC. Piper Jaffray Companies set a $72.00 price target on Bank of Marin Bancorp and gave the stock a “hold” rating in a report on Tuesday, November 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $74.00 price target on shares of Bank of Marin Bancorp in a report on Friday, December 22nd. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Monday, December 25th. Finally, ValuEngine upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Bank of Marin Bancorp presently has a consensus rating of “Hold” and a consensus target price of $74.75.
Bank of Marin Bancorp (NASDAQ BMRC) opened at $73.00 on Thursday. The stock has a market capitalization of $505.27, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a fifty-two week low of $59.05 and a fifty-two week high of $77.90.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $22.13 million during the quarter, compared to the consensus estimate of $22.10 million. Bank of Marin Bancorp had a return on equity of 8.57% and a net margin of 18.83%. equities analysts expect that Bank of Marin Bancorp will post 4.05 EPS for the current year.
In other Bank of Marin Bancorp news, CEO Russell A. Colombo sold 911 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $68.00, for a total value of $61,948.00. Following the transaction, the chief executive officer now owns 26,133 shares in the company, valued at $1,777,044. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.17% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of Bank of Marin Bancorp by 0.4% in the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after purchasing an additional 396 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Bank of Marin Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 245,277 shares of the bank’s stock worth $16,678,000 after purchasing an additional 771 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Bank of Marin Bancorp by 9.7% in the fourth quarter. California State Teachers Retirement System now owns 10,603 shares of the bank’s stock worth $721,000 after purchasing an additional 938 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Bank of Marin Bancorp by 16.6% in the third quarter. New York State Common Retirement Fund now owns 8,513 shares of the bank’s stock worth $583,000 after purchasing an additional 1,213 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Bank of Marin Bancorp by 2.0% in the fourth quarter. Confluence Investment Management LLC now owns 68,392 shares of the bank’s stock worth $4,651,000 after purchasing an additional 1,373 shares during the last quarter. 41.69% of the stock is owned by hedge funds and other institutional investors.
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Bank of Marin Bancorp Company Profile
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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