First Manhattan Co. bought a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,035 shares of the bank’s stock, valued at approximately $342,000. First Manhattan Co. owned 0.08% of Bank of Marin Bancorp at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRC. Sei Investments Co. acquired a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at $8,794,000. Dimensional Fund Advisors LP increased its position in shares of Bank of Marin Bancorp by 37.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock valued at $7,660,000 after acquiring an additional 30,461 shares during the period. Bank of Montreal Can increased its position in shares of Bank of Marin Bancorp by 479.8% in the 4th quarter. Bank of Montreal Can now owns 13,278 shares of the bank’s stock valued at $903,000 after acquiring an additional 10,988 shares during the period. Vanguard Group Inc. increased its position in shares of Bank of Marin Bancorp by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock valued at $13,782,000 after acquiring an additional 10,713 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at $472,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bank of Marin Bancorp (BMRC) opened at $66.70 on Tuesday. Bank of Marin Bancorp has a 1-year low of $59.05 and a 1-year high of $77.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $464.09, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). Bank of Marin Bancorp had a net margin of 18.83% and a return on equity of 8.57%. The business had revenue of $22.13 million during the quarter, compared to analysts’ expectations of $22.10 million. equities research analysts anticipate that Bank of Marin Bancorp will post 4.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, February 1st. Bank of Marin Bancorp’s payout ratio is 44.96%.
In other Bank of Marin Bancorp news, Director Leslie E. Murphy purchased 3,676 shares of the stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $68.00 per share, with a total value of $249,968.00. Following the completion of the acquisition, the director now owns 3,936 shares in the company, valued at $267,648. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.17% of the stock is currently owned by corporate insiders.
Several equities analysts recently issued reports on the company. BidaskClub downgraded Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 25th. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, December 25th. ValuEngine raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $75.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 9th. Finally, DA Davidson reaffirmed a “hold” rating and issued a $72.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, October 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $74.75.
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Bank of Marin Bancorp Profile
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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