Charles Schwab Investment Management Inc. Has $2.69 Million Stake in Bank of Marin Bancorp $BMRC

Charles Schwab Investment Management Inc. lifted its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,721 shares of the bank’s stock after buying an additional 954 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Bank of Marin Bancorp worth $2,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Bank of Marin Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 836,427 shares of the bank’s stock worth $18,460,000 after buying an additional 10,250 shares during the period. Wealthspire Advisors LLC boosted its position in shares of Bank of Marin Bancorp by 7.5% during the first quarter. Wealthspire Advisors LLC now owns 22,056 shares of the bank’s stock worth $487,000 after buying an additional 1,531 shares during the period. XTX Topco Ltd acquired a new position in shares of Bank of Marin Bancorp during the first quarter worth about $392,000. Essex Investment Management Co. LLC bought a new stake in Bank of Marin Bancorp during the first quarter worth about $2,934,000. Finally, Legato Capital Management LLC bought a new stake in Bank of Marin Bancorp during the first quarter worth about $871,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BMRC. DA Davidson upped their target price on Bank of Marin Bancorp from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Piper Sandler upped their price objective on Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of Marin Bancorp has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $24.54 on Friday. The company has a market capitalization of $395.58 million, a P/E ratio of 57.07 and a beta of 0.89. Bank of Marin Bancorp has a 1 year low of $19.11 and a 1 year high of $27.11. The business’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $22.58.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $10.29 million for the quarter, compared to analyst estimates of $29.07 million. Bank of Marin Bancorp had a return on equity of 4.60% and a net margin of 4.43%. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, August 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 232.56%.

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

About Bank of Marin Bancorp

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.