Bank of Marin Bancorp’s (BMRC) Overweight Rating Reaffirmed at Stephens

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “overweight” rating reaffirmed by Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $30.00 price target on the bank’s stock. Stephens’ target price would suggest a potential upside of 26.21% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, October 10th.

Bank of Marin Bancorp Trading Up 1.4 %

NASDAQ:BMRC opened at $23.77 on Thursday. The stock has a market capitalization of $382.29 million, a P/E ratio of -27.64 and a beta of 0.93. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The firm has a 50 day moving average of $24.52 and a 200-day moving average of $21.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC bought a new position in Bank of Marin Bancorp during the second quarter worth about $426,000. AQR Capital Management LLC acquired a new position in Bank of Marin Bancorp in the 2nd quarter valued at $709,000. Acadian Asset Management LLC increased its position in Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after buying an additional 50,874 shares during the period. State Street Corp lifted its holdings in shares of Bank of Marin Bancorp by 0.9% during the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after buying an additional 3,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Bank of Marin Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after acquiring an additional 33,280 shares during the period. 52.26% 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 small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.