Bank of Marin Bancorp (NASDAQ:BMRC) Earns Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Bank of Marin Bancorp (NASDAQ:BMRC) in a report published on Friday morning, Benzinga reports. They currently have a $21.00 price objective on the bank’s stock.

A number of other equities analysts have also weighed in on the company. Stephens reiterated an equal weight rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a research note on Thursday. DA Davidson decreased their target price on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a research note on Tuesday, April 30th.

Bank of Marin Bancorp Stock Up 0.7 %

Shares of NASDAQ:BMRC opened at $16.19 on Friday. The firm has a 50 day moving average of $15.35 and a 200 day moving average of $17.30. The company has a market capitalization of $263.74 million, a price-to-earnings ratio of 19.51 and a beta of 0.91. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same period in the previous year, the business earned $0.59 EPS. On average, sell-side analysts expect that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.18%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 120.48%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMRC. Quadrature Capital Ltd acquired a new stake in shares of Bank of Marin Bancorp in the first quarter valued at about $202,000. Acadian Asset Management LLC purchased a new stake in Bank of Marin Bancorp during the 1st quarter worth approximately $816,000. ProShare Advisors LLC raised its holdings in shares of Bank of Marin Bancorp by 21.4% during the first quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock valued at $7,546,000 after acquiring an additional 79,291 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. lifted its position in shares of Bank of Marin Bancorp by 6.9% in the first quarter. Rosenthal Henry Capital Advisors Inc. now owns 46,500 shares of the bank’s stock valued at $729,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in shares of Bank of Marin Bancorp by 27.3% in the first quarter. Wealthspire Advisors LLC now owns 20,525 shares of the bank’s stock worth $344,000 after acquiring an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.