Stephens Reiterates Equal Weight Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Stephens reaffirmed their equal weight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $16.00 price objective on the bank’s stock.

Several other equities analysts also recently weighed in on BMRC. DA Davidson decreased their price target on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods decreased their target price on shares of Bank of Marin Bancorp from $25.00 to $21.00 and set an outperform rating on the stock in a research note on Friday, May 3rd.

Bank of Marin Bancorp Stock Performance

Bank of Marin Bancorp stock opened at $16.19 on Thursday. The company’s fifty day moving average price is $15.35 and its 200 day moving average price is $17.30. The stock has a market capitalization of $263.74 million, a P/E ratio of 19.51 and a beta of 0.91. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 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 the consensus estimate of $0.28 by ($0.10). The company had revenue of $36.90 million for the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same quarter last year, the company earned $0.59 EPS. Sell-side analysts predict that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were given a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 6.18%. Bank of Marin Bancorp’s payout ratio is 120.48%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRC. Private Wealth Partners LLC increased its position in shares of Bank of Marin Bancorp by 2.7% during the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock worth $814,000 after purchasing an additional 983 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Bank of Marin Bancorp by 1.9% in the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock worth $1,409,000 after acquiring an additional 1,201 shares during the last quarter. Bridge City Capital LLC boosted its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after purchasing an additional 1,747 shares during the period. PNC Financial Services Group Inc. increased its holdings in Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,832 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Bank of Marin Bancorp by 29.7% in the fourth quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock valued at $202,000 after purchasing an additional 2,105 shares during the period. Hedge funds and other 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.