Prudential Financial Inc. Has $2.30 Million Stock Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Prudential Financial Inc. boosted its position in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 92.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,757 shares of the bank's stock after acquiring an additional 46,536 shares during the period. Prudential Financial Inc. owned 0.60% of Bank of Marin Bancorp worth $2,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at about $74,000. SG Americas Securities LLC lifted its holdings in Bank of Marin Bancorp by 7.1% in the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank's stock valued at $155,000 after buying an additional 430 shares during the period. Wulff Hansen & CO. bought a new position in Bank of Marin Bancorp in the fourth quarter valued at approximately $200,000. Raymond James Financial Inc. acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $200,000. Finally, Angel Oak Capital Advisors LLC bought a new stake in shares of Bank of Marin Bancorp during the 4th quarter valued at $214,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stephens reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Wednesday, January 29th. StockNews.com upgraded Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC traded down $0.26 during midday trading on Tuesday, reaching $20.21. 111,113 shares of the stock were exchanged, compared to its average volume of 74,664. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The company has a market capitalization of $325.72 million, a price-to-earnings ratio of -38.86 and a beta of 0.84. The business has a 50-day simple moving average of $23.38 and a two-hundred day simple moving average of $23.38.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, January 27th. The bank reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter in the prior year, the company posted $0.04 EPS. Equities research analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Thursday, February 6th. Bank of Marin Bancorp's dividend payout ratio (DPR) is presently -192.31%.

Bank of Marin Bancorp Company 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.