Hotchkis & Wiley Capital Management LLC Sells 41,780 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 10.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,570 shares of the bank's stock after selling 41,780 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 2.14% of Bank of Marin Bancorp worth $6,922,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank's stock valued at $31,000 after buying an additional 1,096 shares during the last quarter. Riverview Trust Co boosted its holdings in Bank of Marin Bancorp by 105.5% in the second quarter. Riverview Trust Co now owns 1,950 shares of the bank's stock valued at $32,000 after acquiring an additional 1,001 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in Bank of Marin Bancorp in the second quarter worth about $287,000. Assenagon Asset Management S.A. bought a new stake in Bank of Marin Bancorp during the 2nd quarter worth about $396,000. Finally, Rhumbline Advisers lifted 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 purchasing an additional 656 shares during the period. Institutional investors own 52.26% of the company's stock.

Bank of Marin Bancorp Stock Down 1.0 %

NASDAQ BMRC traded down $0.25 during trading on Friday, reaching $24.81. 29,468 shares of the stock traded hands, compared to its average volume of 75,159. The stock's 50-day moving average price is $23.30 and its 200 day moving average price is $19.97. The firm has a market cap of $398.94 million, a price-to-earnings ratio of -28.85 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The business had revenue of $39.21 million during the quarter, compared to analysts' expectations of $27.30 million. During the same quarter in the prior year, the company earned $0.33 EPS. Analysts anticipate that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.03%. Bank of Marin Bancorp's payout ratio is -116.28%.

Analyst Ratings Changes

BMRC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Wednesday. StockNews.com cut shares of Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. Finally, DA Davidson raised Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, October 10th.

About Bank of Marin Bancorp

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.