DA Davidson Lowers Bank of Marin Bancorp (NASDAQ:BMRC) Price Target to $21.00

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) had its target price reduced by stock analysts at DA Davidson from $23.00 to $21.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. DA Davidson’s price target would suggest a potential upside of 7.25% from the company’s current price. DA Davidson also issued estimates for Bank of Marin Bancorp’s Q1 2024 earnings at $0.24 EPS and FY2024 earnings at $1.45 EPS.

Separately, StockNews.com assumed coverage on shares of Bank of Marin Bancorp in a research report on Thursday, October 5th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.25.

View Our Latest Research Report on Bank of Marin Bancorp

Bank of Marin Bancorp Trading Down 3.3 %

Shares of NASDAQ BMRC opened at $19.58 on Tuesday. Bank of Marin Bancorp has a twelve month low of $12.89 and a twelve month high of $31.28. The company has a market capitalization of $316.02 million, a price-to-earnings ratio of 15.79 and a beta of 0.89. The business has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $19.60.

Insider Activity

In other Bank of Marin Bancorp news, Director William H. Mcdevitt, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $20.10, for a total value of $60,300.00. Following the sale, the director now directly owns 26,715 shares in the company, valued at $536,971.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BMRC. Lazard Asset Management LLC purchased a new position in Bank of Marin Bancorp during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Bank of Marin Bancorp by 642.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the bank’s stock valued at $38,000 after acquiring an additional 1,491 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Bank of Marin Bancorp by 754.8% during the 2nd quarter. Citigroup Inc. now owns 5,411 shares of the bank’s stock valued at $96,000 after acquiring an additional 4,778 shares in the last quarter. Captrust Financial Advisors grew its stake in Bank of Marin Bancorp by 54.9% in the first quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,124 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at approximately $130,000. Institutional investors and hedge funds own 55.17% of the company’s stock.

About Bank of Marin Bancorp

(Get Free Report)

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.

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