Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Raised to $27.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target lifted by Keefe, Bruyette & Woods from $26.00 to $27.00 in a report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Separately, Stephens reissued an “overweight” rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $25.70 on Wednesday. The company has a market cap of $416.85 million, a P/E ratio of -64.25 and a beta of 0.86. The stock has a 50 day simple moving average of $21.85 and a two-hundred day simple moving average of $22.62. Bank of Marin Bancorp has a fifty-two week low of $15.93 and a fifty-two week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $35.24 million for the quarter, compared to the consensus estimate of $27.99 million. Bank of Marin Bancorp had a negative net margin of 4.20% and a positive return on equity of 3.77%. On average, research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.89%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -250.00%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Bank of Marin Bancorp by 29.7% during the 1st quarter. CWM LLC now owns 2,753 shares of the bank’s stock valued at $61,000 after purchasing an additional 630 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bank of Marin Bancorp by 157.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank’s stock valued at $26,000 after purchasing an additional 663 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of Marin Bancorp by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock valued at $2,686,000 after purchasing an additional 954 shares during the period. Golden State Wealth Management LLC raised its stake in Bank of Marin Bancorp by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank’s stock valued at $44,000 after buying an additional 1,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Bank of Marin Bancorp by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 100,607 shares of the bank’s stock valued at $2,391,000 after buying an additional 1,150 shares during the last quarter. Hedge funds and other institutional investors 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.