Diamond Hill Capital Management Inc. Sells 10,000 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Diamond Hill Capital Management Inc. lowered its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 38.5% during the third quarter, HoldingsChannel.com reports. The fund owned 16,000 shares of the bank’s stock after selling 10,000 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Bank of Marin Bancorp were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Creative Planning bought a new stake in Bank of Marin Bancorp in the third quarter valued at about $361,000. Exchange Traded Concepts LLC bought a new stake in Bank of Marin Bancorp in the third quarter valued at about $292,000. SG Americas Securities LLC bought a new stake in Bank of Marin Bancorp in the third quarter valued at about $122,000. AQR Capital Management LLC bought a new stake in Bank of Marin Bancorp in the second quarter valued at about $709,000. Finally, Squarepoint Ops LLC increased its stake in Bank of Marin Bancorp by 39.5% in the second quarter. Squarepoint Ops LLC now owns 36,850 shares of the bank’s stock valued at $597,000 after acquiring an additional 10,438 shares during the period. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

BMRC opened at $26.32 on Tuesday. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $26.40. The company’s 50 day simple moving average is $21.29 and its 200-day simple moving average is $18.67. The stock has a market capitalization of $428.49 million, a P/E ratio of -30.60 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The business had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -116.28%.

Analysts Set New Price Targets

A number of equities analysts have commented on BMRC shares. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st.

Bank of Marin Bancorp 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.