Bank of Marin Bancorp (NASDAQ:BMRC) Rating Increased to Hold at StockNews.com

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

BMRC has been the topic of a number of other research reports. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC traded up $0.47 during midday trading on Tuesday, hitting $24.95. 43,677 shares of the company’s stock traded hands, compared to its average volume of 74,913. The firm’s fifty day moving average price is $23.49 and its two-hundred day moving average price is $20.15. 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 cap of $401.20 million, a PE ratio of -29.01 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The company had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, equities research analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in Bank of Marin Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after purchasing an additional 656 shares during the last quarter. Empowered Funds LLC grew its holdings in Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after buying an additional 1,072 shares in the last quarter. CWM LLC increased its position in Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,096 shares during the period. Hsbc Holdings PLC raised its stake in Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock worth $231,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors 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.