Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Down 8.2% in March

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 719,500 shares, a drop of 8.2% from the March 15th total of 783,900 shares. Based on an average daily trading volume, of 64,100 shares, the short-interest ratio is presently 11.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson reduced their price target on shares of Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Stephens reduced their price target on shares of Bank of Marin Bancorp from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC opened at $15.00 on Wednesday. The company has a market cap of $244.50 million, a PE ratio of 12.10 and a beta of 0.85. Bank of Marin Bancorp has a 52 week low of $12.89 and a 52 week high of $23.24. The firm has a 50 day simple moving average of $16.54 and a 200 day simple moving average of $18.50.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. The firm had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $27.50 million. On average, equities analysts predict that Bank of Marin Bancorp will post 1.23 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were given a $0.25 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 6.67%. Bank of Marin Bancorp’s payout ratio is 80.65%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its position in Bank of Marin Bancorp by 0.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 69,082 shares of the bank’s stock worth $2,069,000 after buying an additional 312 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Bank of Marin Bancorp by 7.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock worth $259,000 after buying an additional 486 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Bank of Marin Bancorp by 3.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 24,415 shares of the bank’s stock worth $538,000 after buying an additional 768 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bank of Marin Bancorp by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 110,999 shares of the bank’s stock worth $1,961,000 after buying an additional 783 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Bank of Marin Bancorp by 25.9% in the 2nd quarter. Captrust Financial Advisors now owns 3,992 shares of the bank’s stock worth $127,000 after buying an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.