Northern Trust Corp grew its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 6.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 87,460 shares of the bank’s stock after acquiring an additional 4,956 shares during the quarter. Northern Trust Corp’s holdings in Bank of Marin Bancorp were worth $7,071,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank bought a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $889,000. Dimensional Fund Advisors LP boosted its holdings in shares of Bank of Marin Bancorp by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 190,824 shares of the bank’s stock valued at $15,428,000 after buying an additional 27,399 shares in the last quarter. John W. Rosenthal Capital Management Inc. boosted its holdings in shares of Bank of Marin Bancorp by 5.7% in the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 32,500 shares of the bank’s stock valued at $2,628,000 after buying an additional 1,750 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Bank of Marin Bancorp by 382.0% in the 2nd quarter. Bank of America Corp DE now owns 16,045 shares of the bank’s stock valued at $1,298,000 after buying an additional 12,716 shares in the last quarter. Finally, Voya Investment Management LLC bought a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $222,000. Institutional investors and hedge funds own 44.93% of the company’s stock.
A number of research firms have recently weighed in on BMRC. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, October 24th. Piper Jaffray Companies set a $86.00 price target on shares of Bank of Marin Bancorp and gave the company a “hold” rating in a report on Tuesday, July 24th. Finally, DA Davidson lifted their target price on shares of Bank of Marin Bancorp to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $85.40.
BMRC stock opened at $84.39 on Friday. The company has a market capitalization of $586.58 million, a P/E ratio of 25.73, a P/E/G ratio of 2.70 and a beta of 0.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a 52 week low of $63.50 and a 52 week high of $90.85.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 22nd. The bank reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. The company had revenue of $25.78 million during the quarter, compared to analysts’ expectations of $25.33 million. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.33%. As a group, equities research analysts forecast that Bank of Marin Bancorp will post 4.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, November 1st were paid a $0.35 dividend. The ex-dividend date was Wednesday, October 31st. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.66%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 42.68%.
In related news, insider Peter Pelham sold 1,672 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the sale, the insider now directly owns 9,556 shares in the company, valued at approximately $845,132.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.17% of the stock is owned by company insiders.
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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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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