Bank of Marin Bancorp (NASDAQ:BMRC) Given Outperform Rating at Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research note issued on Friday, Benzinga reports. They presently have a $21.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 30.52% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. DA Davidson decreased their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Stephens reiterated an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a report on Thursday.

Bank of Marin Bancorp Price Performance

BMRC traded up $0.02 during midday trading on Friday, hitting $16.09. 6,677 shares of the company’s stock traded hands, compared to its average volume of 61,264. The company has a market cap of $262.11 million, a PE ratio of 19.39 and a beta of 0.91. The stock’s fifty day simple moving average is $15.32 and its 200-day simple moving average is $17.39. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The business had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.09%. During the same quarter in the prior year, the business posted $0.59 EPS. On average, research analysts expect that Bank of Marin Bancorp will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds have recently made changes to their positions in BMRC. Quadrature Capital Ltd acquired a new position in Bank of Marin Bancorp in the 1st quarter valued at approximately $202,000. Acadian Asset Management LLC acquired a new position in shares of Bank of Marin Bancorp in the first quarter valued at $816,000. ProShare Advisors LLC lifted its position in Bank of Marin Bancorp by 21.4% in the first quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock worth $7,546,000 after purchasing an additional 79,291 shares during the period. Rosenthal Henry Capital Advisors Inc. increased its holdings in Bank of Marin Bancorp by 6.9% in the 1st quarter. Rosenthal Henry Capital Advisors Inc. now owns 46,500 shares of the bank’s stock valued at $729,000 after buying an additional 3,000 shares during the period. Finally, Wealthspire Advisors LLC raised its stake in shares of Bank of Marin Bancorp by 27.3% in the 1st quarter. Wealthspire Advisors LLC now owns 20,525 shares of the bank’s stock valued at $344,000 after buying an additional 4,400 shares in the last quarter. 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.