Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Update

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 703,200 shares, a growth of 8.8% from the September 15th total of 646,600 shares. Based on an average trading volume of 94,500 shares, the short-interest ratio is presently 7.4 days.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in BMRC. PNC Financial Services Group Inc. boosted its position in shares of Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,832 shares in the last quarter. Bridge City Capital LLC boosted its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after purchasing an additional 1,747 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Bank of Marin Bancorp by 60.3% in the first quarter. BNP Paribas Financial Markets now owns 27,418 shares of the bank’s stock worth $460,000 after acquiring an additional 10,316 shares in the last quarter. Empowered Funds LLC boosted its holdings in Bank of Marin Bancorp by 114.9% in the first quarter. Empowered Funds LLC now owns 20,132 shares of the bank’s stock worth $338,000 after acquiring an additional 10,764 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in Bank of Marin Bancorp by 27.3% in the first quarter. Wealthspire Advisors LLC now owns 20,525 shares of the bank’s stock worth $344,000 after acquiring an additional 4,400 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Up 0.0 %

BMRC traded up $0.01 during midday trading on Thursday, hitting $22.33. 42,253 shares of the company were exchanged, compared to its average volume of 77,714. The firm has a market capitalization of $363.67 million, a P/E ratio of 26.89 and a beta of 0.92. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.24. The firm’s 50 day moving average price is $20.17 and its 200-day moving average price is $17.78.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The business had revenue of $37.12 million during the quarter, compared to analyst estimates of $25.85 million. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, sell-side analysts predict that Bank of Marin Bancorp will post 0.47 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. Bank of Marin Bancorp’s payout ratio is 120.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BMRC shares. Keefe, Bruyette & Woods boosted their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stephens restated an “equal weight” rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Finally, DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 10th.

About Bank of Marin Bancorp

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.