Bank of Marin Raises Holdings in Bank of Marin Bancorp $BMRC

Bank of Marin increased its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 364.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,046 shares of the bank’s stock after buying an additional 81,656 shares during the quarter. Bank of Marin Bancorp comprises about 1.9% of Bank of Marin’s investment portfolio, making the stock its 13th biggest position. Bank of Marin’s holdings in Bank of Marin Bancorp were worth $2,706,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter worth $31,000. Russell Investments Group Ltd. raised its position in shares of Bank of Marin Bancorp by 2,543.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after buying an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after buying an additional 379 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Bank of Marin Bancorp by 124.6% in the 2nd 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 during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after buying an additional 407 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMRC. Weiss Ratings lowered Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods cut their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Piper Sandler cut their target price on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research lowered Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

Shares of NASDAQ BMRC opened at $25.93 on Wednesday. Bank of Marin Bancorp has a 12-month low of $21.21 and a 12-month high of $28.48. The company has a market cap of $419.81 million, a P/E ratio of -12.84 and a beta of 0.82. 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 fifty day moving average price of $26.00 and a 200 day moving average price of $26.17.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, April 27th. The bank reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The company had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. Research analysts anticipate that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio is currently -49.50%.

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.