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

Bank of Marin Bancorp (NASDAQ:BMRC) 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:BMRC) 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.

About Bank of Marin Bancorp

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.