Basswood Capital Management L.L.C. Takes Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Basswood Capital Management L.L.C. acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 169,803 shares of the bank’s stock, valued at approximately $3,411,000. Basswood Capital Management L.L.C. owned about 1.06% of Bank of Marin Bancorp at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Bank of Marin Bancorp in the third quarter worth about $74,000. Charles Schwab Investment Management Inc. raised its stake in shares of Bank of Marin Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 2,842 shares in the last quarter. Empowered Funds LLC lifted its holdings in Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after purchasing an additional 1,072 shares during the last quarter. Creative Planning bought a new stake in Bank of Marin Bancorp during the third quarter worth approximately $361,000. Finally, Exchange Traded Concepts LLC bought a new stake in Bank of Marin Bancorp during the third quarter worth approximately $292,000. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Stock Down 1.2 %

Shares of NASDAQ BMRC opened at $25.28 on Monday. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The company has a market cap of $406.50 million, a P/E ratio of -29.40 and a beta of 0.90. The business’s 50 day moving average is $22.87 and its two-hundred day moving average is $19.77.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its 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. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period in the prior year, the company earned $0.33 EPS. Sell-side analysts expect that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Wall Street Analyst Weigh In

BMRC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th.

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.