Perigon Wealth Management LLC Cuts Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Perigon Wealth Management LLC lessened its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 62,514 shares of the bank’s stock after selling 722 shares during the quarter. Perigon Wealth Management LLC’s holdings in Bank of Marin Bancorp were worth $1,458,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of Bank of Marin Bancorp by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock valued at $155,000 after purchasing an additional 430 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after purchasing an additional 1,072 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Bank of Marin Bancorp by 21.1% in the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,131 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bank of Marin Bancorp by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock valued at $315,000 after purchasing an additional 2,469 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Bank of Marin Bancorp by 23.3% in the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BMRC shares. Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th. Finally, Stephens restated an “overweight” rating and set a $30.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $24.99 on Thursday. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The stock has a market capitalization of $401.91 million, a P/E ratio of -29.06 and a beta of 0.93. The firm’s 50-day moving average is $24.24 and its two-hundred day moving average is $22.22.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 4.00%. Bank of Marin Bancorp’s dividend payout ratio is currently -192.31%.

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.