Bank of Marin Bancorp (NASDAQ:BMRC) Downgraded to “Sell” Rating by StockNews.com

Bank of Marin Bancorp (NASDAQ:BMRC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other equities research analysts have also weighed in on BMRC. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th. Stephens restated an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Bank of Marin Bancorp Stock Up 1.0 %

Shares of BMRC traded up $0.24 during mid-day trading on Thursday, hitting $23.58. 43,192 shares of the company’s stock were exchanged, compared to its average volume of 47,121. The stock has a market cap of $379.17 million, a price-to-earnings ratio of -27.42 and a beta of 0.93. The firm has a fifty day moving average of $24.38 and a two-hundred day moving average of $22.00. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. During the same period in the prior year, the business posted $0.33 earnings per share. On average, equities analysts predict that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Bank of Marin Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after purchasing an additional 33,280 shares during the last quarter. State Street Corp lifted its stake in shares of Bank of Marin Bancorp by 0.9% in the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after buying an additional 3,073 shares during the period. Geode Capital Management LLC grew its position in Bank of Marin Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after buying an additional 6,555 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in Bank of Marin Bancorp during the third quarter valued at about $3,411,000. Finally, Renaissance Technologies LLC raised its holdings in Bank of Marin Bancorp by 29.5% in the 2nd 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. 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.