Basswood Capital Management L.L.C. bought a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 169,803 shares of the bank's stock, valued at approximately $3,411,000. Basswood Capital Management L.L.C. owned approximately 1.06% of Bank of Marin Bancorp at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rhumbline Advisers boosted its position in Bank of Marin Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank's stock valued at $405,000 after acquiring an additional 656 shares in the last quarter. Riverview Trust Co boosted its position in shares of Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank's stock worth $32,000 after purchasing an additional 1,001 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank's stock worth $455,000 after purchasing an additional 1,072 shares in the last quarter. CWM LLC boosted its position in shares of 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 purchasing an additional 1,096 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Bank of Marin Bancorp by 21.1% in the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank's stock worth $199,000 after purchasing an additional 2,131 shares in the last quarter. Institutional investors own 52.26% of the company's stock.
Bank of Marin Bancorp Trading Up 1.7 %
Shares of NASDAQ BMRC traded up $0.43 during trading on Monday, reaching $25.71. 19,602 shares of the company traded hands, compared to its average volume of 75,720. The firm's fifty day simple moving average is $22.87 and its 200 day simple moving average is $19.77. The stock has a market cap of $413.42 million, a P/E ratio of -29.40 and a beta of 0.90. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11.
Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating 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 firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, research analysts expect that Bank of Marin Bancorp will post 0.88 EPS for the current year.
Bank of Marin Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 3.89%. Bank of Marin Bancorp's dividend payout ratio is presently -116.28%.
Analyst Upgrades and Downgrades
A number of analysts have commented on BMRC shares. DA Davidson raised Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a research report on Thursday, October 10th. StockNews.com cut Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a research report on Monday, November 11th.
Check Out Our Latest Stock Report on BMRC
About Bank of Marin Bancorp
(
Free Report)
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.
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