Bank of Marin Bancorp (BMRC) Reaches New 52-Week High and Low at $79.65

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) hit a new 52-week high and low during trading on Friday . The company traded as low as $79.65 and last traded at $76.75, with a volume of 82 shares. The stock had previously closed at $76.75.

BMRC has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson lifted their price target on shares of Bank of Marin Bancorp to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 24th. Finally, Zacks Investment Research lowered shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.25.

The company has a market capitalization of $539.86 million, a P/E ratio of 23.19, a P/E/G ratio of 1.70 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, April 23rd. The bank reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Bank of Marin Bancorp had a return on equity of 8.30% and a net margin of 19.93%. The company had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.27 million. equities analysts expect that Bank of Marin Bancorp will post 4.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Friday, May 4th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.63%. This is a positive change from Bank of Marin Bancorp’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, May 3rd. Bank of Marin Bancorp’s payout ratio is 37.80%.

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRC. MetLife Investment Advisors LLC bought a new stake in Bank of Marin Bancorp during the fourth quarter valued at approximately $218,000. Stone Ridge Asset Management LLC bought a new stake in Bank of Marin Bancorp during the fourth quarter valued at approximately $220,000. Financial Advocates Investment Management bought a new stake in Bank of Marin Bancorp during the fourth quarter valued at approximately $251,000. ClariVest Asset Management LLC grew its position in Bank of Marin Bancorp by 83.2% during the first quarter. ClariVest Asset Management LLC now owns 3,723 shares of the bank’s stock valued at $257,000 after buying an additional 1,691 shares during the period. Finally, Aspiriant LLC bought a new stake in Bank of Marin Bancorp during the first quarter valued at approximately $272,000. Institutional investors own 42.01% of the company’s stock.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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