Bank of Marin Bancorp’s (BMRC) Overweight Rating Reiterated at Stephens

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $30.00 price objective on the bank’s stock. Stephens’ target price would indicate a potential upside of 21.29% from the company’s current price.

A number of other research firms have also recently commented on BMRC. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 10th. Finally, StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

Bank of Marin Bancorp Price Performance

Shares of BMRC traded up $0.16 during midday trading on Wednesday, reaching $24.74. 8,689 shares of the stock were exchanged, compared to its average volume of 50,899. The business’s 50-day moving average price is $24.24 and its 200 day moving average price is $22.22. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11. The company has a market capitalization of $397.74 million, a price-to-earnings ratio of -28.76 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, January 27th. The bank reported $0.38 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 previous year, the company earned $0.04 EPS. As a group, equities research analysts expect that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after acquiring an additional 33,280 shares in the last quarter. State Street Corp boosted its stake in shares of Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after acquiring an additional 3,073 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bank of Marin Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $3,411,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Bank of Marin Bancorp by 29.5% during the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock worth $2,432,000 after acquiring an additional 34,200 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

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 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.