Shares of Bank of Marin Bancorp (NASDAQ:BMRC) surged past 200-day moving average Wednesday,peaking at $26.76 before settling at $26.54. That moving average is $26.13. Trading volume: 197,542 shares.
Analysts have been split on this stock. On May 11,Weiss Ratings downgraded it from “hold (c-)” to “sell (d+).” At same time,DA Davidson and Keefe, Bruyette & Woods cut price targets from $30.00 to $29.00 but kept a “buy” and “outperform” rating,respectively. Zacks Research went from “hold” to “strong sell” on April 29. Then Wall Street Zen upgraded it from “strong sell” to “hold” May 16. Now,two analysts say buy,two say hold,two say sell. Consensus: “hold.” Average price target: $28.40.
The bank's financial metrics show where it stands. Current ratio and quick ratio both at 0.70. Debt-to-equity ratio: 0.11. 50-day moving average price is $25.93. Market cap: $429.68 million. Price-to-earnings ratio: -13.14. Beta: 0.82.
Latest earnings report from April 27 showed earnings per share (EPS) of $0.53,missing analysts’ $0.56 expectation by $0.03. Revenue hit $34.14 million,beating consensus estimate of $33.87 million . Analysts forecast EPS of 2.21 for this year .
On dividends,bank declared quarterly dividend of $0.25,paid May 14 to those on record as of May 7. Annual payout: $1.00,yielding 3.8%. Dividend payout ratio: -49.50%.
Institutional investors have reshuffled stakes in Bank of Marin Bancorp. HoldCo Asset Management LP boosted holdings by 23.8% in Q3,now owning 504,411 shares valued at $12.25 million after adding 97,000 shares. Westmount Partners LLC took new position worth $2.98 million in Q4. Bank of Marin itself raised holdings by 364.7%,acquiring 104,046 shares valued at $2.71 million after buying another 81,656 shares . Others like Integrated Quantitative Investments LLC and MAI Capital Management also adjusted their positions.
Now,institutional investors and hedge funds hold 52.26% of stock. Bank of Marin Bancorp,based in Novato, California,operates as a community bank,offering services to individuals,small and medium businesses,nonprofits in San Francisco North Bay. But where does it go next…
