Wunderlich Reiterates Buy on Bank of Marin

Wunderlich is out with its report today on Bank of Marin

, reiterating Buy. In its report, Wunderlich writes, "We reiterate our Buy rating on shares of Bank of Marin Bancorp as well as our $42 price target. BMRC reported 3Q11 operating EPS of $0.79, which was $0.01 above consensus and $0.04 above our estimate. BMRC's acquisition in 1Q11 continues to positively impact earnings, and credit quality remains among the strongest of all banks in our research universe." Shares of BMRC closed Monday at $35.31.