Creative Planning Takes $361,000 Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Creative Planning purchased a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,979 shares of the bank’s stock, valued at approximately $361,000. Creative Planning owned about 0.11% of Bank of Marin Bancorp as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC bought a new position in shares of Bank of Marin Bancorp in the third quarter valued at about $292,000. SG Americas Securities LLC bought a new position in shares of Bank of Marin Bancorp in the third quarter valued at about $122,000. AQR Capital Management LLC bought a new position in shares of Bank of Marin Bancorp in the second quarter valued at about $709,000. Squarepoint Ops LLC raised its holdings in shares of Bank of Marin Bancorp by 39.5% in the second quarter. Squarepoint Ops LLC now owns 36,850 shares of the bank’s stock valued at $597,000 after buying an additional 10,438 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after buying an additional 2,700 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $24.87 on Friday. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $26.19. The business has a 50-day moving average price of $21.14 and a two-hundred day moving average price of $18.51.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period in the prior year, the business posted $0.33 EPS. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 0.89 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.02%. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BMRC shares. Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, October 10th.

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.