Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research report report published on Monday morning.

A number of other equities analysts have also issued reports on the stock. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

Bank of Marin Bancorp Trading Up 0.2 %

Shares of NASDAQ:BMRC opened at $26.20 on Monday. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $26.80. The company’s fifty day moving average price is $21.49 and its 200 day moving average price is $18.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business 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 period in the previous year, the business earned $0.33 EPS. On average, analysts anticipate that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after acquiring an additional 1,096 shares during the period. Riverview Trust Co grew its stake in shares of Bank of Marin Bancorp by 105.5% during the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after purchasing an additional 1,001 shares during the period. Quantbot Technologies LP purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at about $74,000. SG Americas Securities LLC acquired a new stake in shares of Bank of Marin Bancorp in the third quarter valued at about $122,000. Finally, XTX Topco Ltd purchased a new stake in Bank of Marin Bancorp during the second quarter worth about $168,000. Institutional investors and hedge funds 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.