Stephens Lowers Bank of Marin Bancorp (NASDAQ:BMRC) Price Target to $16.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target dropped by stock analysts at Stephens from $19.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ target price would suggest a potential upside of 12.83% from the company’s current price.

Separately, DA Davidson reduced their target price on Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 30th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC traded down $0.26 during midday trading on Tuesday, hitting $14.18. 24,936 shares of the stock were exchanged, compared to its average volume of 64,325. The stock has a market capitalization of $231.13 million, a price-to-earnings ratio of 11.53 and a beta of 0.85. The business’s 50-day moving average price is $16.16 and its 200 day moving average price is $18.33. Bank of Marin Bancorp has a 12 month low of $12.89 and a 12 month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.10). The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, sell-side analysts expect that Bank of Marin Bancorp will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after buying an additional 1,832 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Bank of Marin Bancorp in the 3rd quarter valued at $130,000. Bridge City Capital LLC raised its position in Bank of Marin Bancorp by 17.9% in the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after buying an additional 1,747 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in Bank of Marin Bancorp in the 4th quarter valued at $355,000. Finally, BNP Paribas Financial Markets raised its position in Bank of Marin Bancorp by 38.6% in the 4th quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock valued at $377,000 after buying an additional 4,762 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

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.