Bank of Marin Bancorp (NASDAQ:BMRC) shares are set to split before the market opens on Wednesday, November 28th. The 2-1 split was announced on Monday, October 22nd. The newly created shares will be payable to shareholders after the closing bell on Tuesday, November 27th.

NASDAQ:BMRC opened at $83.23 on Tuesday. The company has a market cap of $593.06 million, a price-to-earnings ratio of 25.38, a P/E/G ratio of 2.73 and a beta of 0.62. Bank of Marin Bancorp has a twelve month low of $63.50 and a twelve month high of $90.85. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 22nd. The bank reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $25.78 million for the quarter, compared to analyst estimates of $25.33 million. Bank of Marin Bancorp had a return on equity of 9.33% and a net margin of 24.21%. Research analysts forecast that Bank of Marin Bancorp will post 4.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Thursday, November 1st were given a dividend of $0.35 per share. This is a positive change from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.68%. Bank of Marin Bancorp’s payout ratio is 42.68%.

Several research firms have weighed in on BMRC. Sandler O’Neill reaffirmed a “hold” rating and set a $88.00 price target on shares of Bank of Marin Bancorp in a research report on Monday, July 23rd. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Wednesday, October 24th. BidaskClub raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Piper Jaffray Companies set a $86.00 target price on Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $85.40.

In other news, insider Peter Pelham sold 1,672 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $88.44, for a total transaction of $147,871.68. Following the completion of the transaction, the insider now directly owns 9,556 shares in the company, valued at approximately $845,132.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.17% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Bank of Marin Bancorp by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,868 shares of the bank’s stock worth $3,261,000 after acquiring an additional 782 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Bank of Marin Bancorp by 1.4% during the 3rd quarter. Confluence Investment Management LLC now owns 73,284 shares of the bank’s stock worth $6,149,000 after acquiring an additional 1,022 shares during the period. AQR Capital Management LLC boosted its stake in shares of Bank of Marin Bancorp by 4.9% during the 3rd quarter. AQR Capital Management LLC now owns 33,144 shares of the bank’s stock worth $2,781,000 after acquiring an additional 1,546 shares during the period. John W. Rosenthal Capital Management Inc. boosted its stake in shares of Bank of Marin Bancorp by 5.7% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 32,500 shares of the bank’s stock worth $2,628,000 after acquiring an additional 1,750 shares during the period. Finally, MetLife Investment Advisors LLC boosted its stake in shares of Bank of Marin Bancorp by 59.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 5,086 shares of the bank’s stock worth $427,000 after acquiring an additional 1,887 shares during the period. Institutional investors own 44.04% of the company’s stock.

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Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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