Squarepoint Ops LLC Takes Position in Bank of Marin Bancorp $BMRC

Squarepoint Ops LLC purchased a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,750 shares of the bank’s stock, valued at approximately $1,365,000. Squarepoint Ops LLC owned about 0.37% of Bank of Marin Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Bank of Marin Bancorp by 7.1% in the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock valued at $241,000 after buying an additional 696 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bank of Marin Bancorp by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock worth $2,686,000 after acquiring an additional 954 shares during the period. Tower Research Capital LLC TRC raised its holdings in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares in the last quarter. CWM LLC lifted its position in Bank of Marin Bancorp by 41.5% in the second quarter. CWM LLC now owns 3,895 shares of the bank’s stock valued at $89,000 after purchasing an additional 1,142 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after purchasing an additional 1,981 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $27.15 on Friday. The stock has a market cap of $436.84 million, a PE ratio of 43.79 and a beta of 0.85. Bank of Marin Bancorp has a 1 year low of $19.14 and a 1 year high of $28.48. The stock has a fifty day moving average price of $25.93 and a 200 day moving average price of $24.50.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, March 7th. The bank reported $0.61 earnings per share for the quarter. Bank of Marin Bancorp had a return on equity of 5.25% and a net margin of 6.22%.The business had revenue of $31.32 million during the quarter. As a group, equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Bank of Marin Bancorp’s payout ratio is presently 161.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a report on Wednesday, October 29th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. DA Davidson boosted their target price on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $30.00 price target (up from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Marin Bancorp has an average rating of “Moderate Buy” and a consensus target price of $28.40.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.