Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Stephens

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday,Finviz reports.

BMRC has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 10th.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock traded down $0.02 during trading hours on Monday, hitting $24.79. The stock had a trading volume of 4,280 shares, compared to its average volume of 74,846. The firm has a market capitalization of $398.62 million, a PE ratio of -28.83 and a beta of 0.93. The stock’s 50 day moving average is $23.40 and its 200 day moving average is $20.09. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly 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. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, equities analysts predict that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently modified their holdings of BMRC. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after acquiring an additional 33,280 shares during the period. State Street Corp grew its stake in shares of Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after purchasing an additional 3,073 shares during the period. Geode Capital Management LLC grew its stake in shares of Bank of Marin Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after purchasing an additional 6,555 shares during the period. Basswood Capital Management L.L.C. purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at about $3,411,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 34,200 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

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.