Bank of Marin Bancorp (BMRC) Given Consensus Rating of “Hold” by Analysts

Bank of Marin Bancorp (NASDAQ:BMRC) has received a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $43.50.

Several research analysts have commented on BMRC shares. BidaskClub downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, February 4th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Bank of Marin Bancorp in a report on Tuesday, April 23rd.

In other news, insider Peter Pelham sold 624 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $41.45, for a total value of $25,864.80. Following the transaction, the insider now directly owns 16,357 shares of the company’s stock, valued at approximately $677,997.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Russell A. Colombo sold 2,553 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $42.10, for a total value of $107,481.30. Following the completion of the transaction, the chief executive officer now directly owns 65,409 shares in the company, valued at $2,753,718.90. The disclosure for this sale can be found here. Insiders sold a total of 5,995 shares of company stock worth $251,505 over the last three months. 5.29% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Bank of Marin Bancorp by 104.3% during the 4th quarter. BlackRock Inc. now owns 1,144,009 shares of the bank’s stock worth $47,178,000 after buying an additional 584,103 shares during the period. Dimensional Fund Advisors LP raised its stake in Bank of Marin Bancorp by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 475,174 shares of the bank’s stock worth $19,335,000 after buying an additional 37,692 shares during the period. Vanguard Group Inc raised its stake in Bank of Marin Bancorp by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 335,756 shares of the bank’s stock worth $28,170,000 after buying an additional 3,751 shares during the period. Vanguard Group Inc. raised its stake in Bank of Marin Bancorp by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 335,756 shares of the bank’s stock worth $28,170,000 after buying an additional 3,751 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Bank of Marin Bancorp by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 272,211 shares of the bank’s stock worth $11,076,000 after buying an additional 31,000 shares during the period. 43.07% of the stock is currently owned by institutional investors and hedge funds.

BMRC traded down $0.22 during midday trading on Friday, hitting $41.95. 1,610 shares of the company were exchanged, compared to its average volume of 32,900. The company has a market capitalization of $573.86 million, a PE ratio of 18.00, a PEG ratio of 2.46 and a beta of 0.59. Bank of Marin Bancorp has a 1-year low of $37.92 and a 1-year high of $45.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05.

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 Thomson Reuters’ consensus estimate of $0.65 by ($0.11). The company had revenue of $25.62 million for the quarter, compared to analyst estimates of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.79% and a net margin of 31.44%. Equities research analysts predict that Bank of Marin Bancorp will post 2.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, May 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, May 2nd. Bank of Marin Bancorp’s dividend payout ratio is 32.62%.

Bank of Marin Bancorp Company Profile

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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