Cwm LLC Has $61,000 Holdings in Bank of Marin Bancorp (NASDAQ:BMRC)

Cwm LLC grew its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 29.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,753 shares of the bank’s stock after buying an additional 630 shares during the quarter. Cwm LLC’s holdings in Bank of Marin Bancorp were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at approximately $5,680,000. North Reef Capital Management LP raised its holdings in shares of Bank of Marin Bancorp by 45.8% during the 4th quarter. North Reef Capital Management LP now owns 470,956 shares of the bank’s stock valued at $11,195,000 after purchasing an additional 148,020 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Bank of Marin Bancorp by 92.7% in the 4th quarter. Prudential Financial Inc. now owns 96,757 shares of the bank’s stock valued at $2,300,000 after purchasing an additional 46,536 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Bank of Marin Bancorp by 6.3% in 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 in the last quarter. Finally, Kennedy Capital Management LLC increased its position in Bank of Marin Bancorp by 30.9% during the fourth quarter. Kennedy Capital Management LLC now owns 152,267 shares of the bank’s stock worth $3,619,000 after buying an additional 35,958 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Down 1.9%

Shares of Bank of Marin Bancorp stock opened at $22.22 on Friday. The company has a market cap of $360.41 million, a price-to-earnings ratio of 51.67 and a beta of 0.89. Bank of Marin Bancorp has a 1 year low of $16.97 and a 1 year high of $27.11. The company’s fifty day simple moving average is $23.20 and its 200-day simple moving average is $22.77.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Bank of Marin Bancorp had a return on equity of 4.60% and a net margin of 4.43%. The company had revenue of $10.29 million for the quarter, compared to the consensus estimate of $29.07 million. As a group, research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp declared that its Board of Directors has approved a stock repurchase program on Monday, July 28th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the bank to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, August 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 232.56%.

Analyst Ratings Changes

A number of brokerages have weighed in on BMRC. Stephens reaffirmed an “overweight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. Piper Sandler boosted their target price on Bank of Marin Bancorp from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their price target on Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, DA Davidson lifted their price target on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $26.25.

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.