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.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, July 23rd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.10. The business had revenue of $25.08 million during the quarter, compared to analyst estimates of $24.61 million. Bank of Marin Bancorp had a return on equity of 8.79% and a net margin of 21.77%. sell-side analysts anticipate that Bank of Marin Bancorp will post 4.37 earnings per share for the current fiscal year.

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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