ProShare Advisors LLC Sells 68,942 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

ProShare Advisors LLC decreased its holdings in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,020 shares of the bank's stock after selling 68,942 shares during the period. ProShare Advisors LLC owned about 2.34% of Bank of Marin Bancorp worth $6,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Acadian Asset Management LLC boosted its holdings in shares of Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank's stock valued at $1,611,000 after acquiring an additional 50,874 shares during the last quarter. Renaissance Technologies LLC raised its stake in Bank of Marin Bancorp by 29.5% during the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank's stock valued at $2,432,000 after buying an additional 34,200 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank's stock valued at $11,595,000 after buying an additional 33,280 shares during the last quarter. Choreo LLC bought a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at $426,000. Finally, Assenagon Asset Management S.A. bought a new stake in Bank of Marin Bancorp during the second quarter valued at approximately $396,000. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC traded down $0.01 during trading hours on Thursday, reaching $19.58. The stock had a trading volume of 58,199 shares, compared to its average volume of 77,716. The stock has a market capitalization of $318.76 million, a PE ratio of 23.90 and a beta of 0.92. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The company has a 50 day moving average price of $20.08 and a two-hundred day moving average price of $17.36.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The bank reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.13). The business had revenue of $37.12 million during the quarter, compared to analysts' expectations of $25.85 million. Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. During the same period in the previous year, the business earned $0.28 earnings per share. Equities research analysts predict that Bank of Marin Bancorp will post 0.47 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 5.11%. Bank of Marin Bancorp's payout ratio is 120.48%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMRC. Stephens reiterated an "equal weight" rating and set a $16.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st.

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.