Bank of Marin Bancorp (NASDAQ:BMRC) Stake Lowered by Bank of Marin

Bank of Marin cut its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 32.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,006 shares of the bank’s stock after selling 5,319 shares during the quarter. Bank of Marin owned approximately 0.07% of Bank of Marin Bancorp worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BMRC. Empowered Funds LLC increased its position in Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after purchasing an additional 1,072 shares during the last quarter. Creative Planning acquired a new position in Bank of Marin Bancorp in the third quarter worth approximately $361,000. Exchange Traded Concepts LLC acquired a new position in Bank of Marin Bancorp in the third quarter worth approximately $292,000. SG Americas Securities LLC bought a new position in Bank of Marin Bancorp during the third quarter valued at approximately $122,000. Finally, AQR Capital Management LLC acquired a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $709,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC traded up $0.13 during trading hours on Friday, hitting $26.70. 4,383 shares of the stock were exchanged, compared to its average volume of 76,881. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $26.94. The company’s 50 day moving average is $21.70 and its 200 day moving average is $18.92. The firm has a market capitalization of $429.34 million, a P/E ratio of -31.10 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The company had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. During the same quarter last year, the company earned $0.33 EPS. Research analysts anticipate that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is -116.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMRC. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 10th. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

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 small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.