Stephens Upgrades Bank of Marin Bancorp (NASDAQ:BMRC) to “Overweight”

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Monday,Finviz reports.

BMRC has been the subject of several other reports. StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, DA Davidson raised 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.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC traded down $0.02 during midday trading on Monday, hitting $24.79. The company’s stock had a trading volume of 4,280 shares, compared to its average volume of 74,846. The firm has a market capitalization of $398.62 million, a price-to-earnings ratio of -28.83 and a beta of 0.93. The business’s fifty day simple moving average is $23.40 and its two-hundred day simple moving average is $20.09. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating 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 company had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter last year, the company posted $0.33 EPS. Analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at $74,000. SG Americas Securities LLC purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at $122,000. XTX Topco Ltd acquired a new stake in Bank of Marin Bancorp during the 2nd quarter worth $168,000. Finally, Hsbc Holdings PLC lifted its position in 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. Hedge funds and other 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.