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

StockNews.com downgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other analysts have also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods upped 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. Finally, DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 10th.

Bank of Marin Bancorp Price Performance

BMRC opened at $23.58 on Thursday. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The company 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 50 day simple moving average of $24.38 and a 200 day simple moving average of $22.00.

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

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in Bank of Marin Bancorp in the third quarter valued at approximately $74,000. SG Americas Securities LLC bought a new stake in Bank of Marin Bancorp in the 3rd quarter valued at $122,000. XTX Topco Ltd acquired a new position in Bank of Marin Bancorp in the 2nd quarter worth $168,000. Hsbc Holdings PLC increased its holdings in Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after purchasing an additional 2,131 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at about $214,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.