Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at StockNews.com

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

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

Bank of Marin Bancorp Stock Down 0.7 %

BMRC traded down $0.17 during trading 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 52 week low of $14.11 and a 52 week high of $23.35. The stock has a market cap of $370.18 million, a P/E ratio of 27.39 and a beta of 0.92. The business has a 50 day simple moving average of $20.88 and a 200-day simple moving average of $18.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, equities research analysts expect that Bank of Marin Bancorp will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in shares of Bank of Marin Bancorp by 21.4% in the first quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock valued at $7,546,000 after purchasing an additional 79,291 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Bank of Marin Bancorp by 104.4% in the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after acquiring an additional 50,874 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Bank of Marin Bancorp during the second quarter worth $709,000. Renaissance Technologies LLC raised 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 acquiring an additional 34,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 valued at $11,595,000 after acquiring an additional 33,280 shares in 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.