Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a report released on Monday.

Several other research analysts also recently commented on the company. DA Davidson raised 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. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Bank of Marin Bancorp Stock Up 1.4 %

Shares of BMRC stock opened at $26.57 on Monday. The firm has a market capitalization of $427.33 million, a P/E ratio of -30.47 and a beta of 0.90. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $26.94. The stock’s fifty day simple moving average is $21.59 and its 200 day simple moving average is $18.87.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data 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. The business had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, equities research analysts expect that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is -116.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in shares of Bank of Marin Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after purchasing an additional 656 shares during the period. Riverview Trust Co lifted its stake in shares of Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,001 shares during the period. Empowered Funds LLC lifted its stake in shares of Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after purchasing an additional 1,072 shares during the period. CWM LLC lifted its stake in shares of Bank of Marin Bancorp by 129.2% in the 2nd 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 period. Finally, Hsbc Holdings PLC raised its stake in Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after buying an additional 2,131 shares during the period. 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.