Bank of Marin Bancorp (NASDAQ:BMRC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,634 shares of the bank’s stock after selling 4,742 shares during the period. Geode Capital Management LLC owned approximately 2.22% of Bank of Marin Bancorp worth $8,502,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of Bank of Marin Bancorp by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after buying an additional 430 shares during the period. Wulff Hansen & CO. acquired a new stake in Bank of Marin Bancorp during the fourth quarter worth about $200,000. Raymond James Financial Inc. purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter worth about $200,000. Angel Oak Capital Advisors LLC acquired a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at about $214,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ:BMRC opened at $21.08 on Thursday. The company has a market cap of $341.56 million, a P/E ratio of -40.54 and a beta of 0.84. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $27.11. The business’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $23.38.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter last year, the company earned $0.04 EPS. Analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BMRC shares. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

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.