AQR Capital Management LLC Acquires New Shares in Bank of Marin Bancorp (NASDAQ:BMRC)

AQR Capital Management LLC acquired a new position in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 43,806 shares of the bank's stock, valued at approximately $709,000. AQR Capital Management LLC owned 0.27% of Bank of Marin Bancorp as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BMRC. 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 worth $405,000 after acquiring an additional 656 shares during the period. Riverview Trust Co increased its stake in Bank of Marin Bancorp by 105.5% during the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank's stock valued at $32,000 after buying an additional 1,001 shares during the period. CWM LLC raised its position in shares of Bank of Marin Bancorp by 129.2% during 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 in the last quarter. Bridge City Capital LLC raised its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank's stock worth $193,000 after buying an additional 1,747 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank's stock worth $52,000 after acquiring an additional 1,832 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMRC. Stephens reissued an "equal weight" rating and set a $16.00 target price on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. DA Davidson upgraded Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC traded down $0.01 during trading on Monday, hitting $21.80. The company had a trading volume of 46,490 shares, compared to its average volume of 77,083. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The business's 50-day moving average is $20.01 and its 200 day moving average is $17.71. The company has a market cap of $355.03 million, a P/E ratio of 26.27 and a beta of 0.92.

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

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.59%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp's payout ratio is 120.48%.

Bank of Marin Bancorp 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.