Bank of Marin Bancorp (NASDAQ:BMRC) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target trimmed by Keefe, Bruyette & Woods from $25.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Other equities analysts also recently issued research reports about the company. DA Davidson cut their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a report on Tuesday. Stephens dropped their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating for the company in a research report on Tuesday.

Bank of Marin Bancorp Stock Up 2.4 %

Shares of Bank of Marin Bancorp stock traded up $0.37 on Friday, hitting $15.56. The company’s stock had a trading volume of 80,299 shares, compared to its average volume of 74,263. The company has a market capitalization of $253.58 million, a P/E ratio of 18.75 and a beta of 0.88. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24. The firm has a fifty day moving average price of $16.01 and a 200-day moving average price of $18.26.

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

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date is Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BMRC. North Reef Capital Management LP acquired a new position in Bank of Marin Bancorp during the third quarter worth approximately $1,005,000. Rosenthal Henry Capital Advisors Inc. grew its stake 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 valued at $795,000 after buying an additional 25,000 shares during the period. Trexquant Investment LP acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth $432,000. Cerity Partners LLC purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter worth $430,000. Finally, Wealthspire Advisors LLC acquired a new position in Bank of Marin Bancorp in the fourth quarter valued at $355,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.