Bank of Marin Bancorp (BMRC) Cut to “Hold” at BidaskClub
BidaskClub lowered shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a buy rating to a hold rating in a research note issued to investors on Saturday.
Several other brokerages have also issued reports on BMRC. Piper Jaffray Companies set a $86.00 target price on Bank of Marin Bancorp and gave the stock a hold rating in a research note on Tuesday, July 24th. DA Davidson upped their target price on Bank of Marin Bancorp to $88.00 and gave the stock a neutral rating in a research note on Tuesday, July 24th. Zacks Investment Research raised Bank of Marin Bancorp from a hold rating to a buy rating and set a $97.00 target price for the company in a research note on Monday, June 25th. Finally, Sandler O’Neill reaffirmed a hold rating and issued a $88.00 target price on shares of Bank of Marin Bancorp in a research note on Monday, July 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $86.60.
Shares of BMRC opened at $86.45 on Friday. The company has a market capitalization of $610.18 million, a price-to-earnings ratio of 26.36, a PEG ratio of 2.00 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a 1 year low of $63.50 and a 1 year high of $90.85.
In other Bank of Marin Bancorp news, EVP Elizabeth Reizman sold 1,753 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.82, for a total value of $155,701.46. Following the completion of the sale, the executive vice president now owns 3,995 shares in the company, valued at $354,835.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Russell A. Colombo sold 400 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $87.65, for a total value of $35,060.00. Following the completion of the sale, the insider now owns 33,893 shares of the company’s stock, valued at approximately $2,970,721.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,825 shares of company stock valued at $338,633. 5.17% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in BMRC. Bank of Montreal Can bought a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $186,000. Voya Investment Management LLC bought a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $222,000. ClariVest Asset Management LLC lifted its position in Bank of Marin Bancorp by 83.2% in the first quarter. ClariVest Asset Management LLC now owns 3,723 shares of the bank’s stock valued at $257,000 after purchasing an additional 1,691 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new stake in Bank of Marin Bancorp in the first quarter valued at approximately $276,000. Finally, RMB Capital Management LLC bought a new stake in Bank of Marin Bancorp in the first quarter valued at approximately $310,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.
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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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