Bank of Marin Bancorp (NASDAQ:BMRC) Downgraded to “Hold” at BidaskClub

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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 Thursday, BidAskClub reports.

BMRC has been the topic of several other reports. DA Davidson reaffirmed a neutral rating on shares of Bank of Marin Bancorp in a report on Tuesday, April 23rd. Zacks Investment Research lowered Bank of Marin Bancorp from a buy rating to a sell rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $44.75.

Bank of Marin Bancorp stock traded down $0.24 during midday trading on Thursday, hitting $41.78. 740 shares of the company were exchanged, compared to its average volume of 21,463. The firm has a market cap of $576.47 million, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 2.47 and a beta of 0.62. Bank of Marin Bancorp has a fifty-two week low of $38.00 and a fifty-two week high of $45.42. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, April 22nd. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.11). The company had revenue of $25.62 million for the quarter, compared to analyst estimates of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.79% and a net margin of 31.44%. Equities analysts expect that Bank of Marin Bancorp will post 2.42 EPS for the current year.

In other Bank of Marin Bancorp news, insider Peter Pelham sold 624 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $41.45, for a total value of $25,864.80. Following the sale, the insider now directly owns 16,357 shares of the company’s stock, valued at $677,997.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Russell A. Colombo sold 2,553 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $42.10, for a total value of $107,481.30. Following the completion of the sale, the chief executive officer now directly owns 65,409 shares in the company, valued at $2,753,718.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,995 shares of company stock worth $251,505. 5.29% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Castle Rock Wealth Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the first quarter valued at $16,276,000. Advisory Services Network LLC grew its stake in shares of Bank of Marin Bancorp by 59.9% in the fourth quarter. Advisory Services Network LLC now owns 606 shares of the bank’s stock valued at $25,000 after buying an additional 227 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of Bank of Marin Bancorp by 81.8% in the first quarter. Federated Investors Inc. PA now owns 798 shares of the bank’s stock valued at $33,000 after buying an additional 359 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the first quarter valued at $37,000. Finally, Hanson McClain Inc. acquired a new stake in shares of Bank of Marin Bancorp in the first quarter valued at $37,000. 42.61% of the stock is currently owned by institutional investors.

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 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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