Thrivent Financial for Lutherans Sells 30,862 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Thrivent Financial for Lutherans lowered its stake in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 68.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,221 shares of the bank's stock after selling 30,862 shares during the quarter. Thrivent Financial for Lutherans owned 0.09% of Bank of Marin Bancorp worth $286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BMRC. CWM LLC raised its position in Bank of Marin Bancorp by 129.2% during the 2nd quarter. CWM LLC now owns 1,944 shares of the bank's stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Bank of Marin Bancorp by 105.5% during 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 in the last quarter. SG Americas Securities LLC purchased a new stake in Bank of Marin Bancorp in the third quarter worth $122,000. XTX Topco Ltd bought a new stake in Bank of Marin Bancorp in the second quarter valued at $168,000. Finally, Hsbc Holdings PLC increased its position in Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank's stock valued at $199,000 after purchasing an additional 2,131 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

BMRC has been the subject of several research analyst reports. 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. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, DA Davidson upgraded Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Thursday, October 10th.

Bank of Marin Bancorp Stock Down 1.0 %

Shares of NASDAQ:BMRC traded down $0.25 during midday trading on Friday, reaching $24.81. The company's stock had a trading volume of 29,468 shares, compared to its average volume of 54,163. The firm has a 50 day moving average of $23.40 and a 200-day moving average of $20.06. The firm has a market capitalization of $398.94 million, a P/E ratio of -28.85 and a beta of 0.93. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $27.30 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, research analysts predict that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

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

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.