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

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 635,500 shares, a growth of 6.5% from the October 31st total of 596,600 shares. Based on an average daily volume of 74,800 shares, the short-interest ratio is currently 8.5 days.

Bank of Marin Bancorp Trading Up 0.2 %

Shares of NASDAQ BMRC opened at $25.24 on Thursday. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $27.11. The company has a 50 day simple moving average of $23.19 and a two-hundred day simple moving average of $19.94. The stock has a market cap of $405.93 million, a price-to-earnings ratio of -29.35 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the previous year, the business posted $0.33 EPS. Analysts forecast that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BMRC. Choreo LLC purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at approximately $426,000. AQR Capital Management LLC purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at approximately $709,000. Acadian Asset Management LLC increased its holdings in shares of Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 50,874 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at approximately $396,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. StockNews.com cut 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 lifted their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, 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 research note on Thursday, October 10th.

Read Our Latest Report on Bank of Marin Bancorp

About Bank of Marin Bancorp

(Get Free Report)

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.

Further Reading

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