Westmount Partners LLC Invests $2.98 Million in Bank of Marin Bancorp $BMRC

Westmount Partners LLC acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 114,559 shares of the bank’s stock, valued at approximately $2,980,000. Bank of Marin Bancorp accounts for about 0.7% of Westmount Partners LLC’s portfolio, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after buying an additional 1,040 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Bank of Marin Bancorp by 88.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,356 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $70,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

NASDAQ BMRC opened at $25.63 on Wednesday. The stock has a fifty day simple moving average of $25.89 and a 200-day simple moving average of $25.76. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The stock has a market cap of $413.41 million, a PE ratio of -11.39 and a beta of 0.89. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The firm had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. Equities analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Bank of Marin Bancorp’s payout ratio is presently -44.44%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMRC. Zacks Research cut Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Piper Sandler reiterated a “neutral” rating and set a $30.50 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Weiss Ratings lowered shares of Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Wall Street Zen cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.10.

Bank of Marin Bancorp Company Profile

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.