Ameriprise Financial Inc. acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,663 shares of the bank’s stock, valued at approximately $472,000. Ameriprise Financial Inc. owned about 0.13% of Bank of Marin Bancorp at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Bank of Marin Bancorp by 13.9% during the 1st quarter. Bank of America Corp DE now owns 1,684 shares of the bank’s stock valued at $108,000 after purchasing an additional 206 shares during the last quarter. American International Group Inc. lifted its holdings in Bank of Marin Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock valued at $236,000 after purchasing an additional 240 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Bank of Marin Bancorp by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 46,892 shares of the bank’s stock valued at $2,886,000 after purchasing an additional 620 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Bank of Marin Bancorp by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,473 shares of the bank’s stock valued at $1,691,000 after purchasing an additional 762 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Bank of Marin Bancorp by 7.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,540 shares of the bank’s stock valued at $711,000 after purchasing an additional 800 shares during the last quarter. 43.93% of the stock is owned by institutional investors and hedge funds.

BMRC has been the subject of several research reports. Piper Jaffray Companies set a $68.00 price target on Bank of Marin Bancorp and gave the company a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research downgraded Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 16th. BidaskClub downgraded Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, DA Davidson reissued a “hold” rating and set a $72.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, October 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $71.80.

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Shares of Bank of Marin Bancorp (BMRC) opened at $66.50 on Tuesday. Bank of Marin Bancorp has a twelve month low of $59.05 and a twelve month high of $75.05. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $405.28, a price-to-earnings ratio of 19.35, a PEG ratio of 1.80 and a beta of 0.80.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 23rd. The bank reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. Bank of Marin Bancorp had a return on equity of 8.85% and a net margin of 24.74%. The company had revenue of $20.85 million during the quarter, compared to the consensus estimate of $20.71 million. research analysts forecast that Bank of Marin Bancorp will post 3.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, November 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 34.73%.

Bank of Marin Bancorp Profile

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

Institutional Ownership by Quarter for Bank of Marin Bancorp (NASDAQ:BMRC)

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