Goldman Sachs Group Inc. Has $1.30 Million Stake in Bank of Marin Bancorp $BMRC

Goldman Sachs Group Inc. decreased its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 22.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,816 shares of the bank’s stock after selling 16,604 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.36% of Bank of Marin Bancorp worth $1,298,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. CWM LLC boosted its holdings in Bank of Marin Bancorp by 29.7% during the first quarter. CWM LLC now owns 2,753 shares of the bank’s stock worth $61,000 after purchasing an additional 630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bank of Marin Bancorp by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock worth $2,686,000 after purchasing an additional 954 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Bank of Marin Bancorp by 100.0% during the first 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 during the last quarter. Wealthspire Advisors LLC boosted its holdings in 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 purchasing an additional 1,531 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Bank of Marin Bancorp by 8.3% during the first quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock worth $569,000 after purchasing an additional 1,981 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. DA Davidson increased 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 note on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler increased their price target on shares of 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC opened at $24.81 on Friday. The company has a market cap of $399.94 million, a PE ratio of 57.70 and a beta of 0.91. Bank of Marin Bancorp has a one year low of $19.11 and a one year high of $27.11. The firm’s 50 day simple moving average is $23.94 and its 200 day simple moving average is $22.60.

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 firm had revenue of $10.29 million during 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%. Equities research analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.25 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. Bank of Marin Bancorp’s payout ratio is 232.56%.

Bank of Marin Bancorp declared that its Board of Directors has initiated a share buyback program on Monday, July 28th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are 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.