Bank of Marin Bancorp (NASDAQ:BMRC) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research note released on Monday.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 10th.

Bank of Marin Bancorp Stock Up 0.2 %

NASDAQ:BMRC opened at $26.20 on Monday. The firm’s fifty day moving average is $21.49 and its two-hundred day moving average is $18.82. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $26.80.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping 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 prior year, the company posted $0.33 EPS. Research analysts forecast that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.82%. Bank of Marin Bancorp’s payout ratio is currently -116.28%.

Institutional Trading of Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRC. CWM LLC increased its stake in Bank of Marin Bancorp by 129.2% during the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after buying an additional 1,096 shares during the period. Riverview Trust Co lifted its position 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 last quarter. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp during the third quarter worth $74,000. SG Americas Securities LLC purchased a new position in Bank of Marin Bancorp in the third quarter valued at $122,000. Finally, XTX Topco Ltd purchased a new stake in Bank of Marin Bancorp during the 2nd quarter worth about $168,000. Hedge funds and other institutional investors own 52.26% 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 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.