Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Up 21.8% in January

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 524,645 shares, a growth of 21.8% from the December 31st total of 430,721 shares. Based on an average daily trading volume, of 110,455 shares, the days-to-cover ratio is presently 4.7 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 110,455 shares, the days-to-cover ratio is presently 4.7 days.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $27.58 on Thursday. Bank of Marin Bancorp has a 1 year low of $19.14 and a 1 year high of $28.48. The firm has a market capitalization of $443.76 million, a PE ratio of -12.26 and a beta of 0.88. The stock has a fifty day moving average of $26.82 and a two-hundred day moving average of $25.23.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, January 26th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of ($35.47) million for the quarter, compared to analyst estimates of $32.96 million. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. Equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, February 5th. Bank of Marin Bancorp’s payout ratio is -44.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. UBS Group set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Wall Street Zen cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and an average price target of $30.10.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently added to or reduced their stakes in BMRC. Torren Management LLC bought a new position in Bank of Marin Bancorp during the 4th quarter valued at $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after buying an additional 1,221 shares during the period. Tower Research Capital LLC TRC boosted its stake in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Bank of Marin Bancorp during the second quarter worth about $69,000. Finally, BNP Paribas Financial Markets grew its holdings in Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after acquiring an additional 1,356 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.