Wellington Management Group LLP Buys Shares of 75,578 Bank of Marin Bancorp $BMRC

Wellington Management Group LLP bought a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 75,578 shares of the bank’s stock, valued at approximately $1,668,000. Wellington Management Group LLP owned about 0.47% of Bank of Marin Bancorp as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Bank of Marin Bancorp by 157.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank’s stock worth $26,000 after purchasing an additional 663 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Bank of Marin Bancorp by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC grew its holdings in shares of Bank of Marin Bancorp by 29.7% during the 1st quarter. CWM LLC now owns 2,753 shares of the bank’s stock worth $61,000 after purchasing an additional 630 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $200,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $24.54 on Friday. 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 has a one year low of $19.11 and a one year high of $27.11. The business has a 50 day simple moving average of $23.80 and a 200 day simple moving average of $22.58.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 28th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $10.29 million for the quarter, compared to the consensus estimate of $29.07 million. Bank of Marin Bancorp had a return on equity of 4.60% and a net margin of 4.43%. Equities analysts anticipate 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 initiated a stock buyback plan on Monday, July 28th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the bank to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, August 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 232.56%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BMRC shares. Keefe, Bruyette & Woods lifted their price objective on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. DA Davidson lifted their price objective 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. Finally, Piper Sandler lifted their price objective 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.