Bank of Marin Bancorp (NASDAQ:BMRC) Price Target Cut to $21.00

Bank of Marin Bancorp (NASDAQ:BMRC) had its target price reduced by Keefe, Bruyette & Woods from $25.00 to $21.00 in a report released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Other research analysts have also recently issued reports about the stock. DA Davidson cut their price target on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a neutral rating on the stock in a report on Tuesday, April 30th. Stephens cut their price target on shares of 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 Price Performance

Shares of NASDAQ BMRC opened at $15.84 on Friday. The stock has a market capitalization of $258.19 million, a P/E ratio of 19.08 and a beta of 0.88. The company has a 50-day moving average price of $15.96 and a 200-day moving average price of $18.23. Bank of Marin Bancorp has a 1 year low of $13.84 and a 1 year high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts anticipate that Bank of Marin Bancorp will post 0.89 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

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 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its stake in Bank of Marin Bancorp by 2.5% in the third 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 boosted its stake in Bank of Marin Bancorp by 1.9% in 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 last quarter. North Reef Capital Management LP purchased a new position in Bank of Marin Bancorp in the third quarter valued at about $1,005,000. Rosenthal Henry Capital Advisors Inc. boosted its stake in Bank of Marin Bancorp by 135.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock valued at $795,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Private Wealth Partners LLC boosted its stake 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 valued at $814,000 after acquiring an additional 983 shares during the last quarter. 52.26% of the stock is currently 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.