Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Update

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 596,600 shares, a drop of 12.3% from the October 15th total of 680,500 shares. Based on an average trading volume of 79,300 shares, the days-to-cover ratio is presently 7.5 days.

Bank of Marin Bancorp Stock Down 1.3 %

Shares of BMRC traded down $0.35 during mid-day trading on Friday, reaching $26.22. 49,665 shares of the company's stock were exchanged, compared to its average volume of 77,085. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $26.94. The company has a market cap of $421.62 million, a price-to-earnings ratio of -30.49 and a beta of 0.90. The company has a 50-day simple moving average of $21.81 and a two-hundred day simple moving average of $19.00.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The company had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. During the same quarter last year, the business posted $0.33 earnings per share. As a group, equities research analysts predict that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. Bank of Marin Bancorp's dividend payout ratio (DPR) is -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several hedge funds have recently modified their holdings of BMRC. BNP Paribas Financial Markets boosted its position in Bank of Marin Bancorp by 60.3% during the first quarter. BNP Paribas Financial Markets now owns 27,418 shares of the bank's stock worth $460,000 after acquiring an additional 10,316 shares during the last quarter. Empowered Funds LLC increased its stake in Bank of Marin Bancorp by 114.9% in the first quarter. Empowered Funds LLC now owns 20,132 shares of the bank's stock valued at $338,000 after purchasing an additional 10,764 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Bank of Marin Bancorp in the first quarter valued at $816,000. Quadrature Capital Ltd purchased a new position in Bank of Marin Bancorp during the first quarter worth about $202,000. Finally, CWM LLC boosted its stake in Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank's stock worth $31,000 after buying an additional 1,096 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMRC. StockNews.com downgraded shares of Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Finally, DA Davidson raised Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Thursday, October 10th.

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 small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.