Bank of Marin Bancorp (NASDAQ:BMRC) Rating Reiterated by Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Friday, Benzinga reports. They currently have a $21.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 29.71% from the company’s current price.

Several other equities analysts have also commented on the company. DA Davidson lowered their price objective on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Stephens reissued an “equal weight” rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a research report on Thursday.

Bank of Marin Bancorp Stock Up 0.7 %

NASDAQ:BMRC opened at $16.19 on Friday. The stock has a market cap of $263.74 million, a P/E ratio of 19.51 and a beta of 0.91. The firm’s fifty day simple moving average is $15.35 and its 200 day simple moving average is $17.33. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.10). The company had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.09%. During the same quarter last year, the firm earned $0.59 EPS. On average, analysts expect that Bank of Marin Bancorp will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several large investors have recently modified their holdings of BMRC. PNC Financial Services Group Inc. raised its position in Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after buying an additional 1,832 shares during the last quarter. Bridge City Capital LLC grew its stake in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after purchasing an additional 1,747 shares during the period. SG Americas Securities LLC grew its stake in shares of Bank of Marin Bancorp by 29.7% during the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock valued at $202,000 after purchasing an additional 2,105 shares during the period. Quadrature Capital Ltd bought a new position in shares of Bank of Marin Bancorp during the 1st quarter valued at approximately $202,000. Finally, Empowered Funds LLC grew its stake in shares of Bank of Marin Bancorp by 114.9% during the 1st quarter. Empowered Funds LLC now owns 20,132 shares of the bank’s stock valued at $338,000 after acquiring an additional 10,764 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

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.