Exchange Traded Concepts LLC Invests $292,000 in Bank of Marin Bancorp (NASDAQ:BMRC)

Exchange Traded Concepts LLC purchased a new position in Bank of Marin Bancorp (NASDAQ:BMRC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,552 shares of the bank’s stock, valued at approximately $292,000. Exchange Traded Concepts LLC owned about 0.09% of Bank of Marin Bancorp as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in shares of Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after buying an additional 1,096 shares during the period. Riverview Trust Co lifted its position in Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,001 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Bank of Marin Bancorp by 348.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after buying an additional 1,832 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Bank of Marin Bancorp during the 3rd quarter valued at about $122,000. Finally, XTX Topco Ltd purchased a new position in shares of Bank of Marin Bancorp in the second quarter worth approximately $168,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRC has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stephens reiterated an “equal weight” rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Finally, DA Davidson raised 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 report on Thursday, October 10th.

Bank of Marin Bancorp Trading Down 2.6 %

Shares of BMRC opened at $22.15 on Monday. The firm has a market capitalization of $360.73 million, a P/E ratio of 26.69 and a beta of 0.92. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $23.24. The firm has a fifty day moving average price of $20.35 and a 200-day moving average price of $17.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.13). The firm had revenue of $37.12 million during the quarter, compared to the consensus estimate of $25.85 million. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts predict that Bank of Marin Bancorp will post 0.47 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. Bank of Marin Bancorp’s dividend payout ratio is presently 120.48%.

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.