Assenagon Asset Management S.A. Sells 63,493 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Assenagon Asset Management S.A. lessened its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) by 88.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,144 shares of the bank’s stock after selling 63,493 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Bank of Marin Bancorp worth $244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank bought a new position in shares of Bank of Marin Bancorp during the 1st quarter worth approximately $65,000. Captrust Financial Advisors increased its holdings in Bank of Marin Bancorp by 54.9% during the 1st quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,124 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Bank of Marin Bancorp during the 2nd quarter valued at $138,000. BNP Paribas Arbitrage SA increased its holdings in Bank of Marin Bancorp by 49.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,161 shares of the bank’s stock valued at $164,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Advisor Resource Council acquired a new stake in Bank of Marin Bancorp during the 2nd quarter valued at $229,000. Institutional investors own 48.88% of the company’s stock.

Wall Street Analyst Weigh In

BMRC has been the subject of a number of recent analyst reports. TheStreet raised Bank of Marin Bancorp from a “c+” rating to a “b” rating in a report on Friday, October 28th. Stephens lifted their target price on Bank of Marin Bancorp from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 25th. Piper Sandler reduced their price target on Bank of Marin Bancorp to $33.00 in a research report on Friday, September 30th. StockNews.com initiated coverage on Bank of Marin Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, DA Davidson lifted their target price on Bank of Marin Bancorp to $34.00 in a report on Thursday, October 27th.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $31.51 on Thursday. The stock’s 50-day simple moving average is $33.61 and its 200 day simple moving average is $32.69. The company has a market cap of $505.07 million, a P/E ratio of 11.58 and a beta of 0.76. Bank of Marin Bancorp has a 52-week low of $29.88 and a 52-week high of $38.88.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last announced its quarterly earnings results on Monday, October 24th. The bank reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Bank of Marin Bancorp had a return on equity of 10.69% and a net margin of 31.43%. The firm had revenue of $35.75 million for the quarter, compared to the consensus estimate of $35.40 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities analysts predict that Bank of Marin Bancorp will post 2.95 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, November 4th. Bank of Marin Bancorp’s payout ratio is presently 36.76%.

Bank of Marin Bancorp Company Profile

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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, professionals, not-for-profit organizations, and individuals in California, the United States. It 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.