Bank of Marin Bancorp (NASDAQ:BMRC) Lowered to C at TheStreet

TheStreet cut shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a b- rating to a c rating in a research report sent to investors on Monday morning, TheStreetRatingsTable reports.

A number of other brokerages also recently issued reports on BMRC. ValuEngine upgraded Bank of Marin Bancorp from a strong sell rating to a sell rating in a research report on Monday, December 30th. BidaskClub downgraded Bank of Marin Bancorp from a sell rating to a strong sell rating in a research report on Thursday, January 23rd. Finally, Zacks Investment Research downgraded Bank of Marin Bancorp from a buy rating to a hold rating in a research report on Wednesday, March 11th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $51.00.

Shares of NASDAQ BMRC traded up $4.55 during midday trading on Monday, reaching $31.08. 50,963 shares of the stock traded hands, compared to its average volume of 35,017. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $381.65 million, a PE ratio of 12.48 and a beta of 0.63. Bank of Marin Bancorp has a one year low of $23.80 and a one year high of $47.77. The company’s 50 day moving average is $37.34 and its 200 day moving average is $42.35.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, January 27th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $26.21 million during the quarter, compared to the consensus estimate of $26.20 million. Bank of Marin Bancorp had a return on equity of 10.39% and a net margin of 31.26%. As a group, equities analysts forecast that Bank of Marin Bancorp will post 2.26 EPS for the current year.

In related news, EVP Peter Pelham sold 5,060 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $43.67, for a total transaction of $220,970.20. Following the sale, the executive vice president now owns 17,051 shares of the company’s stock, valued at $744,617.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William H. Mcdevitt, Jr. acquired 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average cost of $38.30 per share, for a total transaction of $199,160.00. Following the transaction, the director now owns 21,431 shares of the company’s stock, valued at $820,807.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 11,560 shares of company stock worth $510,450. Insiders own 5.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its position in Bank of Marin Bancorp by 20.4% during the fourth quarter. Nuveen Asset Management LLC now owns 60,572 shares of the bank’s stock valued at $2,729,000 after purchasing an additional 10,268 shares in the last quarter. Geode Capital Management LLC boosted its position in Bank of Marin Bancorp by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 183,652 shares of the bank’s stock valued at $8,273,000 after purchasing an additional 7,628 shares in the last quarter. Alliancebernstein L.P. boosted its position in Bank of Marin Bancorp by 6.4% during the fourth quarter. Alliancebernstein L.P. now owns 404,141 shares of the bank’s stock valued at $18,207,000 after purchasing an additional 24,392 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Bank of Marin Bancorp by 3.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,481 shares of the bank’s stock valued at $3,671,000 after purchasing an additional 2,979 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Bank of Marin Bancorp by 118.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 48,487 shares of the bank’s stock valued at $2,184,000 after purchasing an additional 26,241 shares in the last quarter. 44.85% 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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