The Zacks: Brokerages Set $60.00 Price Target for Bank of Marin Bancorp (BMRC)

The Zacks: Brokerages Set $60.00 Price Target for Bank of Marin Bancorp (BMRC)

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have received an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.

Analysts have set a one year consensus price target of $60.00 for the company and are predicting that the company will post $0.81 earnings per share for the current quarter, according to Zacks. Zacks has also given Bank of Marin Bancorp an industry rank of 8 out of 265 based on the ratings given to related companies.

A number of brokerages recently commented on BMRC. Piper Jaffray Companies initiated coverage on Bank of Marin Bancorp in a research report on Wednesday. They issued a “neutral” rating and a $70.00 target price for the company. Zacks Investment Research downgraded Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th.

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up 0.15% during trading on Wednesday, hitting $67.10. The stock had a trading volume of 2,683 shares. The company’s 50 day moving average price is $68.51 and its 200 day moving average price is $55.69. The company has a market capitalization of $408.17 million, a price-to-earnings ratio of 18.28 and a beta of 0.81. Bank of Marin Bancorp has a 52 week low of $45.65 and a 52 week high of $75.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 24th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.35. Bank of Marin Bancorp had a return on equity of 10.01% and a net margin of 26.76%. Analysts predict that Bank of Marin Bancorp will post $3.69 earnings per share for the current year.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 4,000 shares of Bank of Marin Bancorp stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $65.61, for a total transaction of $262,440.00. Following the completion of the transaction, the insider now owns 11,211 shares in the company, valued at approximately $735,553.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.94% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Bank of Marin Bancorp by 3.8% in the third quarter. BlackRock Inc. now owns 2,094 shares of the company’s stock worth $104,000 after buying an additional 77 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Bank of Marin Bancorp by 22.9% in the third quarter. Acrospire Investment Management LLC now owns 2,255 shares of the company’s stock worth $112,000 after buying an additional 420 shares during the last quarter. Bank of Montreal Can increased its position in shares of Bank of Marin Bancorp by 33.8% in the third quarter. Bank of Montreal Can now owns 2,353 shares of the company’s stock worth $117,000 after buying an additional 595 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Bank of Marin Bancorp by 1.3% in the second quarter. BlackRock Advisors LLC now owns 3,181 shares of the company’s stock worth $154,000 after buying an additional 40 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Bank of Marin Bancorp by 7.8% in the third quarter. D.A. Davidson & CO. now owns 3,239 shares of the company’s stock worth $161,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 39.52% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s customer base is made up of business and personal banking relationships from the communities near the branch office locations. Its business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations.

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