Bank of Marin Bancorp (NASDAQ:BMRC) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a research report sent to investors on Thursday,Benzinga reports. Stephens currently has a $30.00 price target on the bank’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 10th.

Bank of Marin Bancorp Trading Down 1.1 %

NASDAQ BMRC opened at $23.51 on Thursday. The stock has a 50-day moving average of $24.56 and a 200-day moving average of $21.20. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The firm has a market cap of $378.11 million, a PE ratio of -27.34 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC purchased a new position in Bank of Marin Bancorp during the second quarter valued at $426,000. AQR Capital Management LLC purchased a new position in Bank of Marin Bancorp during the 2nd quarter valued at about $709,000. Acadian Asset Management LLC boosted its stake in Bank of Marin Bancorp by 104.4% during the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after acquiring an additional 50,874 shares in the last quarter. State Street Corp grew its holdings in Bank of Marin Bancorp by 0.9% in the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after purchasing an additional 3,073 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bank of Marin Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.