Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target hoisted by Keefe, Bruyette & Woods from $26.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

A number of other equities research analysts have also weighed in on BMRC. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th.

Bank of Marin Bancorp Price Performance

BMRC opened at $25.24 on Wednesday. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The firm has a market capitalization of $405.93 million, a PE ratio of -29.35 and a beta of 0.93. The company’s 50-day moving average is $23.19 and its 200 day moving average is $19.94.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, analysts expect that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 3.96%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several large investors have recently modified their holdings of BMRC. CWM LLC increased its stake in shares of Bank of Marin Bancorp by 129.2% during the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after purchasing an additional 1,096 shares during the last quarter. Riverview Trust Co increased its stake in shares of Bank of Marin Bancorp by 105.5% during the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after purchasing an additional 1,001 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $74,000. SG Americas Securities LLC purchased a new stake in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $122,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $168,000. 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.