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

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective dropped by analysts at Stephens from $19.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently 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 decreased their price objective on shares of Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th.

Bank of Marin Bancorp Stock Performance

NASDAQ BMRC traded down $0.26 during trading hours on Tuesday, reaching $14.18. The company’s stock had a trading volume of 24,936 shares, compared to its average volume of 64,325. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The stock has a market cap of $231.13 million, a PE ratio of 11.53 and a beta of 0.85. The company’s 50-day moving average is $16.16 and its two-hundred day moving average is $18.33.

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). Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. The company had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. Equities analysts expect that Bank of Marin Bancorp will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently made changes to their positions in the company. Bridge City Capital LLC grew its position in Bank of Marin Bancorp by 17.9% during the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after purchasing an additional 1,747 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Bank of Marin Bancorp by 348.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after acquiring an additional 1,832 shares in the last quarter. Trexquant Investment LP bought a new stake in Bank of Marin Bancorp in the fourth quarter worth approximately $432,000. BNP Paribas Financial Markets grew its position in Bank of Marin Bancorp by 38.6% in the fourth quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock worth $377,000 after acquiring an additional 4,762 shares in the last quarter. Finally, Wealthspire Advisors LLC bought a new stake in Bank of Marin Bancorp in the fourth quarter worth approximately $355,000. Institutional investors and hedge funds 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.