Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at StockNews.com

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts have also commented on the stock. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Wednesday. DA Davidson upgraded 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 note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Bank of Marin Bancorp Trading Up 0.7 %

Bank of Marin Bancorp stock opened at $25.17 on Friday. The company has a fifty day simple moving average of $24.23 and a 200-day simple moving average of $22.24. The stock has a market cap of $404.73 million, a P/E ratio of -29.27 and a beta of 0.93. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, sell-side analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Bank of Marin Bancorp by 6.9% in the fourth quarter. Rhumbline Advisers now owns 25,183 shares of the bank’s stock valued at $599,000 after acquiring an additional 1,621 shares in the last quarter. Empowered Funds LLC grew its holdings in Bank of Marin Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 23,794 shares of the bank’s stock valued at $566,000 after purchasing an additional 1,150 shares in the last quarter. SG Americas Securities LLC increased its stake in Bank of Marin Bancorp by 7.1% during the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after buying an additional 430 shares during the period. Ballentine Partners LLC acquired a new position in Bank of Marin Bancorp in the 4th quarter worth $214,000. Finally, JPMorgan Chase & Co. lifted its holdings in Bank of Marin Bancorp by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after buying an additional 2,469 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.