Bank of Marin Bancorp (BMRC) Receives Consensus Rating of “Hold” from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been assigned a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.67.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, December 25th. BidaskClub cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. Piper Jaffray restated a “hold” rating and set a $75.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, January 9th. ValuEngine upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $74.00 price objective on shares of Bank of Marin Bancorp in a research note on Friday, December 22nd.

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In other news, CEO Russell A. Colombo sold 911 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $68.00, for a total transaction of $61,948.00. Following the completion of the transaction, the chief executive officer now directly owns 26,133 shares of the company’s stock, valued at $1,777,044. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.17% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Bank of Marin Bancorp by 12.3% in the fourth quarter. BlackRock Inc. now owns 525,495 shares of the bank’s stock valued at $35,733,000 after purchasing an additional 57,520 shares in the last quarter. Millennium Management LLC grew its stake in Bank of Marin Bancorp by 169.8% in the 4th quarter. Millennium Management LLC now owns 76,962 shares of the bank’s stock valued at $5,233,000 after buying an additional 48,436 shares during the last quarter. Banc Funds Co. LLC grew its stake in Bank of Marin Bancorp by 24.4% in the 4th quarter. Banc Funds Co. LLC now owns 183,304 shares of the bank’s stock valued at $12,465,000 after buying an additional 35,939 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bank of Marin Bancorp by 37.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock valued at $7,660,000 after buying an additional 30,461 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Bank of Marin Bancorp in the 4th quarter valued at about $1,170,000. 42.65% of the stock is owned by institutional investors and hedge funds.

Shares of BMRC traded down $1.05 during mid-day trading on Thursday, hitting $69.95. The company’s stock had a trading volume of 8,877 shares, compared to its average volume of 22,215. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $488.63, a P/E ratio of 21.65, a P/E/G ratio of 1.57 and a beta of 0.70. Bank of Marin Bancorp has a 1-year low of $59.05 and a 1-year high of $77.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $22.13 million during the quarter, compared to analyst estimates of $22.10 million. Bank of Marin Bancorp had a net margin of 18.83% and a return on equity of 8.10%. research analysts anticipate that Bank of Marin Bancorp will post 4.05 EPS for the current year.

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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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