Alliancebernstein L.P. Raises Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Alliancebernstein L.P. lifted its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,514 shares of the bank's stock after purchasing an additional 38,934 shares during the period. Alliancebernstein L.P. owned 4.08% of Bank of Marin Bancorp worth $15,582,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Zacks Investment Management bought a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $2,195,000. Proficio Capital Partners LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $1,374,000. Prudential Financial Inc. grew its stake in shares of Bank of Marin Bancorp by 92.7% in the 4th quarter. Prudential Financial Inc. now owns 96,757 shares of the bank's stock valued at $2,300,000 after buying an additional 46,536 shares during the period. JPMorgan Chase & Co. increased its position in Bank of Marin Bancorp by 185.3% in the 4th quarter. JPMorgan Chase & Co. now owns 44,686 shares of the bank's stock valued at $1,062,000 after buying an additional 29,024 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Bank of Marin Bancorp in the fourth quarter worth approximately $386,000. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Stock Down 0.2 %

BMRC traded down $0.03 on Monday, hitting $19.82. The company's stock had a trading volume of 8,829 shares, compared to its average volume of 74,672. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The company's 50 day simple moving average is $23.01 and its 200-day simple moving average is $23.39. The firm has a market cap of $319.44 million, a P/E ratio of -38.11 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter last year, the firm earned $0.04 earnings per share. Equities analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 5.05%. Bank of Marin Bancorp's payout ratio is -192.31%.

Analysts Set New Price Targets

A number of research firms have weighed in on BMRC. Stephens reiterated an "overweight" rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th. StockNews.com raised shares of Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st.

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.