Stephens Reaffirms Equal Weight Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Stephens reiterated their equal weight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a report released on Thursday, Benzinga reports. They currently have a $16.00 target price on the bank’s stock.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods lowered their target price on Bank of Marin Bancorp from $25.00 to $21.00 and set an outperform rating for the company in a report on Friday, May 3rd. DA Davidson lowered their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Up 0.7 %

Shares of Bank of Marin Bancorp stock opened at $16.19 on Thursday. The firm has a market cap of $263.74 million, a P/E ratio of 19.51 and a beta of 0.91. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $23.24. The business has a 50-day moving average price of $15.35 and a 200 day moving average price of $17.33.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.09%. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts anticipate that Bank of Marin Bancorp will post 0.84 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 120.48%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Wealth Partners LLC grew its holdings in Bank of Marin Bancorp by 2.7% in the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock worth $814,000 after buying an additional 983 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in Bank of Marin Bancorp by 1.9% in the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock worth $1,409,000 after buying an additional 1,201 shares in the last quarter. Bridge City Capital LLC grew its holdings 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 worth $193,000 after buying an additional 1,747 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 worth $52,000 after buying an additional 1,832 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Bank of Marin Bancorp by 29.7% in the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock worth $202,000 after buying an additional 2,105 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

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.