Bank of Marin Bancorp (NASDAQ:BMRC) PT Lowered to $15.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target cut by DA Davidson from $17.00 to $15.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2024 earnings at $0.80 EPS and FY2025 earnings at $1.35 EPS.

Separately, Stephens lowered their price objective on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating on the stock in a research note on Tuesday.

Bank of Marin Bancorp Stock Up 2.4 %

BMRC stock opened at $15.56 on Tuesday. The company has a market cap of $253.63 million, a price-to-earnings ratio of 18.75 and a beta of 0.88. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24. The company has a 50 day moving average of $16.01 and a two-hundred day moving average of $18.26.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. During the same period in the previous year, the firm posted $0.59 EPS. On average, research analysts anticipate that Bank of Marin Bancorp will post 0.96 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 6.43%. Bank of Marin Bancorp’s dividend payout ratio is presently 120.48%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of Bank of Marin Bancorp by 60.3% during the first quarter. BNP Paribas Financial Markets now owns 27,418 shares of the bank’s stock worth $460,000 after purchasing an additional 10,316 shares in the last quarter. Bridge City Capital LLC increased its stake in shares of 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 acquiring an additional 1,747 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Bank of Marin Bancorp by 348.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after purchasing an additional 1,832 shares in the last quarter. Trexquant Investment LP acquired a new position in Bank of Marin Bancorp in the fourth quarter valued at about $432,000. Finally, Wealthspire Advisors LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth approximately $355,000. 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.