Bank of Marin Bancorp (BMRC) Downgraded by ValuEngine

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, October 2nd.

BMRC has been the subject of a number of other research reports. Sandler O’Neill restated a “hold” rating and issued a $88.00 price objective on shares of Bank of Marin Bancorp in a research note on Monday, July 23rd. Piper Jaffray Companies set a $86.00 price objective on Bank of Marin Bancorp and gave the company a “hold” rating in a research note on Tuesday, July 24th. BidaskClub upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Zacks Investment Research downgraded Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.60.

Shares of Bank of Marin Bancorp stock opened at $83.79 on Tuesday. Bank of Marin Bancorp has a 12-month low of $63.50 and a 12-month high of $90.85. The firm has a market cap of $586.75 million, a P/E ratio of 25.55, a P/E/G ratio of 1.92 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.02.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 23rd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $25.08 million during the quarter, compared to the consensus estimate of $24.61 million. Bank of Marin Bancorp had a return on equity of 8.79% and a net margin of 21.77%. On average, equities analysts anticipate that Bank of Marin Bancorp will post 4.37 EPS for the current year.

In related news, insider Russell A. Colombo sold 400 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $87.65, for a total transaction of $35,060.00. Following the sale, the insider now owns 33,893 shares of the company’s stock, valued at approximately $2,970,721.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Pelham sold 1,672 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the sale, the insider now directly owns 9,556 shares in the company, valued at approximately $845,132.64. The disclosure for this sale can be found here. Insiders have sold a total of 3,825 shares of company stock valued at $338,633 in the last quarter. 5.17% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $186,000. Voya Investment Management LLC purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $222,000. RMB Capital Management LLC purchased a new position in shares of Bank of Marin Bancorp during the 1st quarter valued at about $310,000. Brouwer & Janachowski LLC purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $335,000. Finally, Swiss National Bank purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $889,000. 44.52% 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 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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