Short Interest in Bank of Marin Bancorp (NASDAQ:BMRC) Declines By 12.3%

Bank of Marin Bancorp (NASDAQ:BMRC) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 596,600 shares, a decline of 12.3% from the October 15th total of 680,500 shares. Based on an average daily volume of 79,300 shares, the short-interest ratio is presently 7.5 days.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BMRC. Rhumbline Advisers boosted its stake in shares of Bank of Marin Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after buying an additional 656 shares during the last quarter. Riverview Trust Co grew its stake in shares of Bank of Marin Bancorp by 105.5% during the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after purchasing an additional 1,001 shares during the period. Empowered Funds LLC increased its holdings in shares of Bank of Marin Bancorp by 5.0% during 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. CWM LLC boosted its holdings in Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after buying an additional 1,096 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after buying an additional 2,131 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods raised 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. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th.

Bank of Marin Bancorp Stock Down 1.3 %

NASDAQ:BMRC traded down $0.35 during trading hours on Friday, hitting $26.22. 49,665 shares of the company were exchanged, compared to its average volume of 68,098. The company’s 50 day moving average price is $21.81 and its 200-day moving average price is $19.04. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $26.94.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.33 earnings per share. Analysts anticipate that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

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 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.