Deutsche Bank AG Has $284,000 Stock Holdings in Bank of Marin Bancorp $BMRC

Deutsche Bank AG trimmed its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,860 shares of the bank’s stock after selling 2,657 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Bank of Marin Bancorp worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Bank of Marin Bancorp by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock worth $2,686,000 after acquiring an additional 954 shares during the last quarter. Vanguard Group Inc. grew its holdings in Bank of Marin Bancorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 836,427 shares of the bank’s stock worth $18,460,000 after acquiring an additional 10,250 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in Bank of Marin Bancorp by 7.5% during the 1st quarter. Wealthspire Advisors LLC now owns 22,056 shares of the bank’s stock worth $487,000 after acquiring an additional 1,531 shares during the last quarter. XTX Topco Ltd bought a new stake in Bank of Marin Bancorp during the 1st quarter worth approximately $392,000. Finally, Essex Investment Management Co. LLC bought a new stake in Bank of Marin Bancorp during the 1st quarter worth approximately $2,934,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMRC. Keefe, Bruyette & Woods boosted their target price on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Piper Sandler boosted their target price on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Finally, DA Davidson boosted their target price on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Marin Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Bank of Marin Bancorp Stock Up 0.2%

Bank of Marin Bancorp stock opened at $24.54 on Friday. Bank of Marin Bancorp has a 12-month low of $19.11 and a 12-month high of $27.11. The firm’s fifty day moving average is $23.80 and its 200 day moving average is $22.59. The company has a market capitalization of $395.58 million, a PE ratio of 57.07 and a beta of 0.89.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, July 28th. The bank reported $0.29 earnings per share 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 business had revenue of $10.29 million for the quarter, compared to analyst estimates of $29.07 million. Sell-side analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.00 annualized dividend and a yield of 4.1%. Bank of Marin Bancorp’s dividend payout ratio is presently 232.56%.

Bank of Marin Bancorp announced that its Board of Directors has approved a stock buyback plan on Monday, July 28th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the bank to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Bank of Marin Bancorp 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.