StockNews.com Upgrades Bank of Marin Bancorp (NASDAQ:BMRC) to Hold

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock traded down $0.17 during trading hours on Wednesday, reaching $22.73. The company had a trading volume of 74,708 shares, compared to its average volume of 77,527. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.35. The firm has a market cap of $370.18 million, a price-to-earnings ratio of 27.39 and a beta of 0.92. The company has a 50 day moving average of $20.88 and a 200 day moving average of $18.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. The business had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. During the same quarter last year, the business posted $0.33 EPS. As a group, sell-side analysts forecast that Bank of Marin Bancorp will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC boosted its stake in shares of Bank of Marin Bancorp by 21.4% during the 1st quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock worth $7,546,000 after acquiring an additional 79,291 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after purchasing an additional 50,874 shares in the last quarter. AQR Capital Management LLC bought a new position in Bank of Marin Bancorp in the 2nd quarter worth approximately $709,000. Renaissance Technologies LLC grew its holdings in Bank of Marin Bancorp by 29.5% during the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after buying an additional 34,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Marin Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after buying an additional 33,280 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other 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 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.