Bank of Marin Bancorp (NASDAQ:BMRC) Downgraded by StockNews.com to “Sell”

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other equities research analysts have also recently commented on BMRC. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.

Bank of Marin Bancorp Stock Up 4.2 %

BMRC traded up $1.05 on Monday, reaching $26.32. The company had a trading volume of 52,584 shares, compared to its average volume of 77,166. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $26.40. The stock has a market capitalization of $428.49 million, a PE ratio of -30.60 and a beta of 0.90. The stock has a 50-day moving average price of $21.29 and a 200-day moving average price of $18.67.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The business had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, analysts expect that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Bank of Marin Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after purchasing an additional 1,072 shares in the last quarter. Creative Planning purchased a new position in Bank of Marin Bancorp in the third quarter valued at about $361,000. Exchange Traded Concepts LLC purchased a new position in Bank of Marin Bancorp in the third quarter valued at about $292,000. SG Americas Securities LLC purchased a new position in Bank of Marin Bancorp in the third quarter valued at about $122,000. Finally, AQR Capital Management LLC purchased a new position in Bank of Marin Bancorp in the second quarter valued at about $709,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.