Thrivent Financial for Lutherans Sells 30,862 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Thrivent Financial for Lutherans lessened its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 68.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,221 shares of the bank’s stock after selling 30,862 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of Bank of Marin Bancorp worth $286,000 as of its most recent filing with the SEC.

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

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $24.81 on Friday. The firm’s 50-day simple moving average is $23.40 and its 200 day simple moving average is $20.03. The firm has a market cap of $398.94 million, a P/E ratio of -28.85 and a beta of 0.93. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $39.21 million during 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 previous year, the business earned $0.33 earnings per share. As a group, equities analysts forecast that Bank of Marin Bancorp will post 0.88 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 4.03%. Bank of Marin Bancorp’s dividend payout ratio is -116.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BMRC shares. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th.

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.