Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

A number of other analysts have also recently commented on BMRC. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. ValuEngine raised shares of Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Finally, DA Davidson reaffirmed a neutral rating on shares of Bank of Marin Bancorp in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $44.75.

Shares of BMRC stock opened at $42.82 on Wednesday. Bank of Marin Bancorp has a 12 month low of $38.00 and a 12 month high of $45.13. The stock has a market capitalization of $588.69 million, a PE ratio of 17.80, a P/E/G ratio of 2.53 and a beta of 0.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $41.81.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, April 22nd. The bank reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.11). Bank of Marin Bancorp had a net margin of 31.44% and a return on equity of 10.79%. The business had revenue of $25.62 million for the quarter, compared to analysts’ expectations of $26.39 million. On average, sell-side analysts predict that Bank of Marin Bancorp will post 2.42 earnings per share for the current year.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 2,818 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $41.93, for a total value of $118,158.74. Following the completion of the transaction, the insider now directly owns 16,981 shares in the company, valued at $712,013.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Russell A. Colombo sold 2,553 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $42.10, for a total transaction of $107,481.30. Following the completion of the transaction, the chief executive officer now owns 65,409 shares of the company’s stock, valued at $2,753,718.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,995 shares of company stock valued at $251,505. 5.29% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Bank of Marin Bancorp by 115.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 437,482 shares of the bank’s stock worth $18,041,000 after purchasing an additional 234,328 shares during the period. Menta Capital LLC bought a new position in shares of Bank of Marin Bancorp during the fourth quarter worth $205,000. BNP Paribas Arbitrage SA boosted its position in shares of Bank of Marin Bancorp by 261.1% during the first quarter. BNP Paribas Arbitrage SA now owns 2,849 shares of the bank’s stock worth $116,000 after acquiring an additional 2,060 shares during the last quarter. Financial Advocates Investment Management boosted its position in shares of Bank of Marin Bancorp by 825.8% during the fourth quarter. Financial Advocates Investment Management now owns 8,536 shares of the bank’s stock worth $255,000 after acquiring an additional 7,614 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Bank of Marin Bancorp by 35.6% during the first quarter. Acadian Asset Management LLC now owns 37,088 shares of the bank’s stock worth $1,510,000 after acquiring an additional 9,737 shares during the last quarter. Institutional investors and hedge funds own 42.61% 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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