Bank of Marin Bancorp (NASDAQ:BMRC) Cut to Sell at StockNews.com

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

BMRC has been the subject of several other research reports. Keefe, Bruyette & Woods lifted their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, October 10th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC traded up $0.24 on Thursday, hitting $23.58. The stock had a trading volume of 43,192 shares, compared to its average volume of 47,121. The firm’s 50 day moving average price is $24.38 and its 200-day moving average price is $22.00. 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 $379.17 million, a price-to-earnings ratio of -27.42 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 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRC. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp during the third quarter worth about $74,000. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth about $122,000. XTX Topco Ltd bought a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $168,000. Hsbc Holdings PLC increased its position in shares of Bank of Marin Bancorp by 21.1% in the second 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 during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Bank of Marin Bancorp during the fourth quarter valued at approximately $214,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.