Bank of Marin Bancorp (NASDAQ:BMRC) PT Lowered to $16.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its price objective decreased by Stephens from $19.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Stephens’ price objective suggests a potential upside of 8.04% from the company’s current price.

Separately, DA Davidson lowered their price objective on Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th.

Bank of Marin Bancorp Stock Performance

BMRC stock opened at $14.81 on Tuesday. The stock has a fifty day moving average of $16.05 and a 200-day moving average of $18.28. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The company has a market capitalization of $241.40 million, a price-to-earnings ratio of 17.84 and a beta of 0.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10). Bank of Marin Bancorp had a return on equity of 4.11% and a net margin of 9.28%. The business had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. During the same period last year, the business posted $0.59 earnings per share. Equities analysts predict that Bank of Marin Bancorp will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BMRC. Mutual of America Capital Management LLC lifted its stake in shares of Bank of Marin Bancorp by 2.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock valued at $1,385,000 after acquiring an additional 1,879 shares during the last quarter. Perigon Wealth Management LLC increased its position in Bank of Marin Bancorp by 1.9% during the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock valued at $1,409,000 after purchasing an additional 1,201 shares during the period. North Reef Capital Management LP purchased a new stake in shares of Bank of Marin Bancorp in the 3rd quarter worth about $1,005,000. Rosenthal Henry Capital Advisors Inc. lifted its position in shares of Bank of Marin Bancorp by 135.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after purchasing an additional 25,000 shares during the period. Finally, Private Wealth Partners LLC boosted its stake in shares of Bank of Marin Bancorp by 2.7% during the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock valued at $814,000 after purchasing an additional 983 shares in the last quarter. 52.26% 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 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.