JPMorgan Chase & Co. lowered its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 34.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,977 shares of the bank’s stock after selling 3,093 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Bank of Marin Bancorp worth $407,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in Bank of Marin Bancorp by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 244,158 shares of the bank’s stock worth $15,028,000 after purchasing an additional 4,688 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bank of Marin Bancorp by 5.0% during the second quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after purchasing an additional 10,713 shares in the last quarter. Sei Investments Co. acquired a new stake in Bank of Marin Bancorp during the third quarter worth approximately $8,794,000. State Street Corp raised its holdings in Bank of Marin Bancorp by 0.4% during the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after purchasing an additional 396 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Bank of Marin Bancorp by 6.3% during the second quarter. Northern Trust Corp now owns 88,886 shares of the bank’s stock worth $5,471,000 after purchasing an additional 5,300 shares in the last quarter. 41.67% of the stock is currently owned by institutional investors.
In related news, Director Leslie E. Murphy bought 3,676 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $68.00 per share, for a total transaction of $249,968.00. Following the transaction, the director now owns 3,936 shares of the company’s stock, valued at $267,648. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.17% of the company’s stock.
Shares of Bank of Marin Bancorp (NASDAQ BMRC) traded up $1.55 during trading on Friday, hitting $67.05. 17,635 shares of the stock were exchanged, compared to its average volume of 21,526. The firm has a market cap of $458.21, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.49 and a beta of 0.76. Bank of Marin Bancorp has a fifty-two week low of $59.05 and a fifty-two week high of $77.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Bank of Marin Bancorp had a net margin of 18.83% and a return on equity of 8.57%. The firm had revenue of $22.13 million during the quarter, compared to analysts’ expectations of $22.10 million. equities analysts expect that Bank of Marin Bancorp will post 4.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, February 2nd will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.16 dividend on an annualized basis and a yield of 1.73%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 44.96%.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “sell” rating in a report on Monday. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a report on Wednesday, October 25th. DA Davidson reaffirmed a “hold” rating and issued a $72.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $74.00 target price on shares of Bank of Marin Bancorp in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.75.
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Bank of Marin Bancorp Profile
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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