Bank of Marin Bancorp (NASDAQ:BMRC) PT Lowered to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $25.00 to $21.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 34.96% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Stephens lowered their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. DA Davidson lowered their price objective on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Up 2.4 %

NASDAQ BMRC opened at $15.56 on Friday. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24. The business’s 50-day moving average price is $15.98 and its 200 day moving average price is $18.24. The firm has a market cap of $253.58 million, a P/E ratio of 18.75 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a return on equity of 4.11% and a net margin of 9.28%. The company had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same period in the prior year, the business earned $0.59 EPS. As a group, analysts anticipate that Bank of Marin Bancorp will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock worth $1,385,000 after purchasing an additional 1,879 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Bank of Marin Bancorp by 1.9% during the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock worth $1,409,000 after purchasing an additional 1,201 shares during the last quarter. North Reef Capital Management LP acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth approximately $1,005,000. Rosenthal Henry Capital Advisors Inc. raised its position in shares of Bank of Marin Bancorp by 135.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Private Wealth Partners LLC raised 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 valued at $814,000 after acquiring an additional 983 shares during the last quarter. 52.26% of the stock is currently 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.