Bank of Marin Bancorp $BMRC Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 35.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 114,905 shares of the bank’s stock after selling 62,441 shares during the quarter. Acadian Asset Management LLC owned about 0.71% of Bank of Marin Bancorp worth $2,623,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Bank of Marin Bancorp by 1.2% in the 1st 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. Wellington Management Group LLP purchased a new stake in shares of Bank of Marin Bancorp in the 1st quarter valued at $1,668,000. Nuveen LLC purchased a new stake in shares of Bank of Marin Bancorp in the 1st quarter valued at $839,000. XTX Topco Ltd acquired a new stake in shares of Bank of Marin Bancorp in the first quarter worth $392,000. Finally, Alliancebernstein L.P. increased its stake in shares of Bank of Marin Bancorp by 7.0% in the first quarter. Alliancebernstein L.P. now owns 701,534 shares of the bank’s stock worth $15,483,000 after acquiring an additional 46,020 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ:BMRC opened at $26.01 on Friday. The business’s 50 day moving average price is $24.72 and its 200-day moving average price is $23.50. Bank of Marin Bancorp has a 1 year low of $19.14 and a 1 year high of $27.11. The firm has a market capitalization of $418.63 million, a price-to-earnings ratio of 41.95 and a beta of 0.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, March 7th. The bank reported $0.61 EPS for the quarter. The company had revenue of $31.32 million during the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.27%. On average, sell-side analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp announced that its board has initiated a stock 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 repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, November 6th. Bank of Marin Bancorp’s dividend payout ratio is 161.29%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bank of Marin Bancorp in a research report on Wednesday, October 8th. DA Davidson boosted their price objective on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. UBS Group set a $30.00 target price on Bank of Marin Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $30.00 target price (up from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Finally, Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.40.

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.