Bank of Marin price target raised to $25 from $21 at Piper Sandler

Piper Sandler raised the firm’s price target on Bank of Marin (BMRC) to $25 from $21 and keeps a Neutral rating on the shares. The firm notes the company announced the sale of $186M in AFS securities with an average yield of 1.96% and reinvested into higher yielding securities with a WAR of 5.00%. Piper estimates the transaction should boost net interest income by $5.7M annually, expand the net interest margin by 16 bps, and be 26c or 15% accretive to the consensus 2026 EPS of $1.74.