Stephens Reaffirms "Overweight" Rating for Bank of Marin Bancorp (NASDAQ:BMRC)

Stephens restated their overweight rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $30.00 price objective on the bank's stock.

Several other research firms also recently issued reports on BMRC. Keefe, Bruyette & Woods boosted their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. DA Davidson upgraded shares of Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th. Finally, StockNews.com raised Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, December 10th.

Bank of Marin Bancorp Price Performance

BMRC stock traded down $0.26 during midday trading on Thursday, reaching $23.51. 49,303 shares of the company were exchanged, compared to its average volume of 74,006. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $27.11. The firm has a market capitalization of $378.11 million, a price-to-earnings ratio of -27.34 and a beta of 0.93. The business has a 50-day moving average price of $24.56 and a two-hundred day moving average price of $21.20.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, analysts anticipate that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.25%. Bank of Marin Bancorp's payout ratio is -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in shares of Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank's stock worth $405,000 after purchasing an additional 656 shares during the period. Acadian Asset Management LLC boosted its stake in Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank's stock valued at $1,611,000 after purchasing an additional 50,874 shares during the last quarter. Choreo LLC bought a new stake in Bank of Marin Bancorp during the 2nd quarter worth approximately $426,000. Dimensional Fund Advisors LP boosted its position in shares of Bank of Marin Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank's stock valued at $11,595,000 after buying an additional 33,280 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Bank of Marin Bancorp by 29.5% during the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank's stock worth $2,432,000 after buying an additional 34,200 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.