Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a hold rating in a report issued on Saturday, September 15th.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Bank of Marin Bancorp from a hold rating to a buy rating and set a $97.00 price objective for the company in a report on Monday, June 25th. Piper Jaffray Companies set a $86.00 price objective on Bank of Marin Bancorp and gave the company a hold rating in a report on Tuesday, July 24th. Sandler O’Neill reissued a hold rating and set a $88.00 price objective on shares of Bank of Marin Bancorp in a report on Monday, July 23rd. Finally, DA Davidson increased their price objective on Bank of Marin Bancorp to $88.00 and gave the company a neutral rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $86.60.

Shares of BMRC traded down $0.36 on Friday, reaching $83.79. 11,100 shares of the company’s stock traded hands, compared to its average volume of 19,778. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $586.75 million, a price-to-earnings ratio of 25.55, a PEG ratio of 1.92 and a beta of 0.70. Bank of Marin Bancorp has a 52-week low of $63.50 and a 52-week high of $90.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.10. The company had revenue of $25.08 million during the quarter, compared to the consensus estimate of $24.61 million. Bank of Marin Bancorp had a return on equity of 8.79% and a net margin of 21.77%. As a group, equities research analysts predict that Bank of Marin Bancorp will post 4.37 earnings per share for the current year.

In other news, EVP Elizabeth Reizman sold 1,753 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.82, for a total value of $155,701.46. Following the completion of the transaction, the executive vice president now directly owns 3,995 shares of the company’s stock, valued at $354,835.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Pelham sold 1,672 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the transaction, the insider now directly owns 9,556 shares of the company’s stock, valued at $845,132.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,825 shares of company stock valued at $338,633. 5.17% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. John W. Rosenthal Capital Management Inc. boosted its holdings in shares of Bank of Marin Bancorp by 5.7% in the second quarter. John W. Rosenthal Capital Management Inc. now owns 32,500 shares of the bank’s stock worth $2,628,000 after acquiring an additional 1,750 shares during the period. Alpine Woods Capital Investors LLC bought a new stake in Bank of Marin Bancorp during the first quarter valued at $276,000. California Public Employees Retirement System boosted its stake in Bank of Marin Bancorp by 10.2% during the first quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock valued at $1,270,000 after buying an additional 1,705 shares during the period. Swiss National Bank bought a new stake in Bank of Marin Bancorp during the second quarter valued at $889,000. Finally, Banc Funds Co. LLC boosted its stake in Bank of Marin Bancorp by 1.2% during the first quarter. Banc Funds Co. LLC now owns 185,437 shares of the bank’s stock valued at $12,786,000 after buying an additional 2,133 shares during the period. 44.52% of the stock is 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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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