Choreo LLC Makes New Investment in Bank of Marin Bancorp (NASDAQ:BMRC)

Choreo LLC purchased a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 26,059 shares of the bank’s stock, valued at approximately $426,000. Choreo LLC owned 0.16% of Bank of Marin Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Bank of Marin Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after acquiring an additional 656 shares during the period. Riverview Trust Co raised its stake in shares of Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,001 shares during the period. CWM LLC grew its holdings in shares of Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares in the last quarter. Bridge City Capital LLC grew its holdings in shares of Bank of Marin Bancorp by 17.9% in the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after purchasing an additional 1,747 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Bank of Marin Bancorp by 348.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,832 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Down 0.5 %

NASDAQ BMRC opened at $20.43 on Tuesday. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The stock has a market capitalization of $332.60 million, a PE ratio of 24.61 and a beta of 0.92. The firm has a 50 day moving average of $19.90 and a two-hundred day moving average of $17.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.06 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.13). Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. The firm had revenue of $37.12 million for the quarter, compared to analyst estimates of $25.85 million. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts expect that Bank of Marin Bancorp will post 0.47 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.89%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $16.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.

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.