Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Zacks Investment Research

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

BMRC has been the subject of a number of other reports. ValuEngine raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, December 30th. BidaskClub cut shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Finally, TheStreet cut shares of Bank of Marin Bancorp from a “b-” rating to a “c” rating in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Bank of Marin Bancorp presently has an average rating of “Hold” and an average price target of $51.00.

Shares of NASDAQ:BMRC traded up $2.61 during midday trading on Monday, hitting $31.06. The stock had a trading volume of 56,900 shares, compared to its average volume of 36,523. Bank of Marin Bancorp has a 12 month low of $23.80 and a 12 month high of $47.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $34.36 and its 200-day simple moving average is $41.70. The company has a market cap of $386.82 million, a P/E ratio of 12.47 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, January 27th. The bank reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. Bank of Marin Bancorp had a net margin of 31.26% and a return on equity of 10.39%. The business had revenue of $26.21 million during the quarter, compared to analysts’ expectations of $26.20 million. As a group, equities analysts predict that Bank of Marin Bancorp will post 2.13 earnings per share for the current year.

In other news, Director William H. Mcdevitt, Jr. bought 5,200 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $38.30 per share, with a total value of $199,160.00. Following the completion of the acquisition, the director now owns 21,431 shares of the company’s stock, valued at $820,807.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Peter Pelham sold 5,060 shares of Bank of Marin Bancorp stock in a transaction on Friday, February 21st. The stock was sold at an average price of $43.67, for a total value of $220,970.20. Following the sale, the executive vice president now directly owns 17,051 shares of the company’s stock, valued at approximately $744,617.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,560 shares of company stock valued at $465,350. Company insiders own 5.29% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth $41,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Bank of Marin Bancorp in the fourth quarter valued at about $80,000. Marshall Wace LLP acquired a new position in Bank of Marin Bancorp in the first quarter valued at about $75,000. TRUE Private Wealth Advisors acquired a new position in Bank of Marin Bancorp in the fourth quarter valued at about $90,000. Finally, Victory Capital Management Inc. raised its stake in Bank of Marin Bancorp by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,844 shares of the bank’s stock valued at $128,000 after purchasing an additional 740 shares in the last quarter. 44.85% of the stock is owned by institutional investors.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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