Bank of Marin Bancorp (NASDAQ:BMRC) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target trimmed by Keefe, Bruyette & Woods from $25.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

A number of other equities analysts have also weighed in on BMRC. DA Davidson cut their price objective on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating for the company in a research report on Tuesday, April 30th. Stephens cut their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an equal weight rating on the stock in a report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Up 2.4 %

Shares of BMRC stock opened at $15.56 on Friday. The business has a fifty day simple moving average of $15.98 and a 200-day simple moving average of $18.25. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The stock has a market cap of $253.63 million, a P/E ratio of 18.75 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued 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). 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 for the quarter, compared to analysts’ expectations of $26.90 million. During the same period last year, the business earned $0.59 earnings per share. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 0.89 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Wednesday, May 8th. Bank of Marin Bancorp’s payout ratio is 120.48%.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mutual of America Capital Management LLC grew its holdings in Bank of Marin Bancorp by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 75,776 shares of the bank’s stock worth $1,385,000 after acquiring an additional 1,879 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Bank of Marin Bancorp by 1.9% during the fourth quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock valued at $1,409,000 after acquiring an additional 1,201 shares during the period. North Reef Capital Management LP bought a new stake in shares of Bank of Marin Bancorp in the 3rd quarter worth $1,005,000. Rosenthal Henry Capital Advisors Inc. boosted its position in shares of Bank of Marin Bancorp by 135.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock valued at $795,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Private Wealth Partners LLC grew its position in Bank of Marin Bancorp by 2.7% in the fourth quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock worth $814,000 after buying an additional 983 shares during 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.