Ballentine Partners LLC Purchases New Position in Bank of Marin Bancorp $BMRC

Ballentine Partners LLC purchased a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,150 shares of the bank’s stock, valued at approximately $209,000. Ballentine Partners LLC owned approximately 0.06% of Bank of Marin Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of 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 valued at $44,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC increased its position in shares of Bank of Marin Bancorp by 29.7% during the first quarter. CWM LLC now owns 2,753 shares of the bank’s stock valued at $61,000 after acquiring an additional 630 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Bank of Marin Bancorp by 4,337.9% during the first quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after acquiring an additional 8,242 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of Bank of Marin Bancorp during the first quarter valued at approximately $250,000. Finally, GAMMA Investing LLC increased its position in shares of Bank of Marin Bancorp by 6,382.6% during the first quarter. GAMMA Investing LLC now owns 13,419 shares of the bank’s stock valued at $296,000 after acquiring an additional 13,212 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

BMRC opened at $24.30 on Tuesday. Bank of Marin Bancorp has a fifty-two week low of $19.11 and a fifty-two week high of $27.11. The firm’s fifty day moving average is $23.87 and its 200 day moving average is $22.68. The stock has a market cap of $391.72 million, a price-to-earnings ratio of 56.51 and a beta of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, July 28th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Bank of Marin Bancorp had a net margin of 4.43% and a return on equity of 4.60%. The firm had revenue of $10.29 million for the quarter, compared to analysts’ expectations of $29.07 million. On average, equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

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

Bank of Marin Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMRC. Keefe, Bruyette & Woods raised 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 report on Wednesday, July 2nd. Piper Sandler raised 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 raised 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock 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.