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

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 572,200 shares, a decrease of 10.0% from the November 15th total of 635,500 shares. Based on an average trading volume of 68,300 shares, the days-to-cover ratio is presently 8.4 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th.

Bank of Marin Bancorp Stock Down 0.6 %

Shares of Bank of Marin Bancorp stock traded down $0.15 on Tuesday, hitting $24.68. 9,106 shares of the company’s stock traded hands, compared to its average volume of 74,189. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $27.11. The stock has a market cap of $396.93 million, a P/E ratio of -28.87 and a beta of 0.93. The firm’s 50-day moving average is $24.00 and its 200 day moving average is $20.49.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS 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 the consensus estimate 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 firm posted $0.33 EPS. Equities research analysts forecast that Bank of Marin Bancorp will post 0.9 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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors have recently added to or reduced their stakes in BMRC. CWM LLC lifted its position in shares of Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after buying an additional 1,096 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Bank of Marin Bancorp in the second quarter valued at approximately $396,000. Rhumbline Advisers raised its position in shares of Bank of Marin Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after purchasing an additional 656 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after purchasing an additional 50,874 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Bank of Marin Bancorp during the second quarter valued at $426,000. Institutional investors own 52.26% of the company’s stock.

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.