Proficio Capital Partners LLC acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 57,785 shares of the bank's stock, valued at approximately $1,374,000. Proficio Capital Partners LLC owned about 0.36% of Bank of Marin Bancorp at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Bank of Marin Bancorp by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank's stock valued at $155,000 after acquiring an additional 430 shares during the last quarter. Empowered Funds LLC increased its stake in Bank of Marin Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank's stock valued at $455,000 after purchasing an additional 1,072 shares in the last quarter. Rhumbline Advisers raised its holdings in Bank of Marin Bancorp by 6.9% in the fourth quarter. Rhumbline Advisers now owns 25,183 shares of the bank's stock worth $599,000 after purchasing an additional 1,621 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Bank of Marin Bancorp by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank's stock worth $315,000 after purchasing an additional 2,469 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bank of Marin Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank's stock worth $2,451,000 after purchasing an additional 2,842 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.
Bank of Marin Bancorp Trading Up 3.3 %
Shares of NASDAQ BMRC traded up $0.74 during mid-day trading on Monday, hitting $22.83. The company had a trading volume of 61,782 shares, compared to its average volume of 62,787. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $27.11. The company has a market capitalization of $367.95 million, a PE ratio of -43.90 and a beta of 0.91. The firm has a 50-day simple moving average of $23.98 and a two-hundred day simple moving average of $23.32.
Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same quarter last year, the business posted $0.04 EPS. Sell-side analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.
Bank of Marin Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 4.38%. Bank of Marin Bancorp's dividend payout ratio (DPR) is currently -192.31%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. StockNews.com raised Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Stephens restated an "overweight" rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th.
Check Out Our Latest Stock Analysis 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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