Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average broker rating score of 3.00 (Hold) from the four brokers that cover the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a hold rating.
Analysts have set a 1 year consensus price objective of $69.67 for the company and are expecting that the company will post $0.80 EPS for the current quarter, according to Zacks. Zacks has also assigned Bank of Marin Bancorp an industry rank of 26 out of 265 based on the ratings given to its competitors.
BMRC has been the subject of a number of recent analyst reports. FIG Partners increased their target price on shares of Bank of Marin Bancorp from $65.00 to $70.00 and gave the company a “market perform” rating in a research report on Tuesday, January 24th. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Monday, December 26th. Finally, Piper Jaffray Companies initiated coverage on shares of Bank of Marin Bancorp in a research report on Wednesday, January 18th. They issued a “neutral” rating and a $70.00 target price for the company.
A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Bank of Marin Bancorp by 9.5% in the fourth quarter. Renaissance Technologies LLC now owns 116,520 shares of the bank’s stock worth $8,127,000 after buying an additional 10,120 shares in the last quarter. Aspiriant LLC bought a new position in shares of Bank of Marin Bancorp during the fourth quarter worth about $316,000. Main Street Research LLC bought a new position in shares of Bank of Marin Bancorp during the fourth quarter worth about $260,000. John W. Rosenthal Capital Management Inc. bought a new position in shares of Bank of Marin Bancorp during the fourth quarter worth about $2,426,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Bank of Marin Bancorp during the fourth quarter worth about $611,000. Hedge funds and other institutional investors own 40.15% of the company’s stock.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up 3.46% on Monday, reaching $68.80. 18,809 shares of the company’s stock traded hands. The company has a 50 day moving average of $66.85 and a 200-day moving average of $64.02. Bank of Marin Bancorp has a 52 week low of $47.16 and a 52 week high of $75.05. The stock has a market capitalization of $418.79 million, a PE ratio of 18.20 and a beta of 0.81.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 23rd. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.10. The firm earned $20.44 million during the quarter, compared to analyst estimates of $20.11 million. Bank of Marin Bancorp had a net margin of 27.35% and a return on equity of 10.21%. Equities research analysts forecast that Bank of Marin Bancorp will post $3.39 earnings per share for the current year.
About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s customer base is made up of business and personal banking relationships from the communities near the branch office locations. Its business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations.
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