Northern Trust Corp Acquires 5,002 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Northern Trust Corp grew its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,272 shares of the bank’s stock after acquiring an additional 5,002 shares during the period. Northern Trust Corp owned 0.88% of Bank of Marin Bancorp worth $3,358,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $5,680,000. Prudential Financial Inc. increased its holdings in shares of Bank of Marin Bancorp by 92.7% during the 4th quarter. Prudential Financial Inc. now owns 96,757 shares of the bank’s stock worth $2,300,000 after purchasing an additional 46,536 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $1,374,000. JPMorgan Chase & Co. increased its holdings in shares of Bank of Marin Bancorp by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after purchasing an additional 2,469 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Bank of Marin Bancorp by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 655,514 shares of the bank’s stock worth $15,582,000 after purchasing an additional 38,934 shares during the period. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Trading Down 1.1%

Shares of BMRC stock opened at $20.48 on Friday. Bank of Marin Bancorp has a 1 year low of $14.44 and a 1 year high of $27.11. The firm has a market capitalization of $332.10 million, a price-to-earnings ratio of -39.38 and a beta of 0.84. The firm’s 50 day moving average is $21.12 and its 200-day moving average is $23.28.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 28th. The bank reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $35.24 million during the quarter, compared to the consensus estimate of $27.99 million. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. On average, equities research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, May 8th. Bank of Marin Bancorp’s dividend payout ratio is presently -250.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BMRC shares. Stephens restated an “overweight” rating and set a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note 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.