Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a sell rating to a hold rating in a research note published on Friday.

A number of other equities analysts also recently commented on the company. Stephens reissued an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target 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.

Bank of Marin Bancorp Trading Up 0.4 %

Bank of Marin Bancorp stock opened at $25.27 on Friday. The stock has a 50 day moving average of $24.20 and a 200-day moving average of $22.31. The stock has a market cap of $406.34 million, a P/E ratio of -48.60 and a beta of 0.93. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter in the prior year, the business posted $0.04 EPS. As a group, equities analysts predict that Bank of Marin Bancorp will post 1.6 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. Bank of Marin Bancorp’s dividend payout ratio is currently -192.30%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of Bank of Marin Bancorp by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after purchasing an additional 430 shares during the last quarter. Empowered Funds LLC increased its position in Bank of Marin Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after buying an additional 1,072 shares during the period. Rhumbline Advisers lifted its stake in Bank of Marin Bancorp by 6.9% in the fourth quarter. Rhumbline Advisers now owns 25,183 shares of the bank’s stock valued at $599,000 after buying an additional 1,621 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Bank of Marin Bancorp by 21.1% during 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of Bank of Marin Bancorp by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after acquiring an additional 2,469 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

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.