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

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

A number of other equities research analysts have also issued reports on the company. Stephens raised Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of 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. Finally, DA Davidson raised 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.

Bank of Marin Bancorp Trading Up 1.9 %

NASDAQ:BMRC traded up $0.47 during mid-day trading on Tuesday, reaching $24.95. 43,677 shares of the stock were exchanged, compared to its average volume of 74,913. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The business has a fifty day moving average price of $23.49 and a 200 day moving average price of $20.15. The firm has a market capitalization of $401.20 million, a PE ratio of -29.01 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period last year, the firm posted $0.33 earnings per share. On average, sell-side analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors have recently modified their holdings of the stock. CWM LLC boosted its position in Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. Quantbot Technologies LP bought a new stake in Bank of Marin Bancorp in the third quarter worth $74,000. SG Americas Securities LLC bought a new stake in Bank of Marin Bancorp in the third quarter worth $122,000. XTX Topco Ltd acquired a new position in Bank of Marin Bancorp during the second quarter worth $168,000. Finally, Hsbc Holdings PLC raised its holdings in Bank of Marin Bancorp by 21.1% during the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after buying an additional 2,131 shares in the last quarter. 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.