Bank of America Corp DE Raises Stock Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of America Corp DE increased its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 26.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,569 shares of the bank’s stock after purchasing an additional 9,427 shares during the period. Bank of America Corp DE owned approximately 0.28% of Bank of Marin Bancorp worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BMRC. Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Bank of Marin Bancorp during the fourth quarter worth $5,680,000. North Reef Capital Management LP raised its holdings in shares of Bank of Marin Bancorp by 45.8% during the fourth quarter. North Reef Capital Management LP now owns 470,956 shares of the bank’s stock worth $11,195,000 after purchasing an additional 148,020 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Bank of Marin Bancorp during the fourth quarter worth $1,374,000. Prudential Financial Inc. raised its holdings in shares of Bank of Marin Bancorp by 92.7% during the fourth 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 last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Bank of Marin Bancorp by 6.3% during the fourth 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 last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

BMRC opened at $22.35 on Friday. Bank of Marin Bancorp has a fifty-two week low of $14.44 and a fifty-two week high of $27.11. The company has a fifty day moving average of $20.91 and a two-hundred day moving average of $22.96. The stock has a market capitalization of $362.43 million, a price-to-earnings ratio of -42.98 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data 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). Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. The firm had revenue of $35.24 million during the quarter, compared to analysts’ expectations of $27.99 million. On average, equities research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.47%. Bank of Marin Bancorp’s payout ratio is -250.00%.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an “overweight” rating and set a $26.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th.

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.