Charles Schwab Investment Management Inc. Acquires 2,842 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Charles Schwab Investment Management Inc. boosted its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 121,986 shares of the bank’s stock after purchasing an additional 2,842 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of Bank of Marin Bancorp worth $2,451,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its stake in 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 acquiring an additional 1,096 shares during the period. SG Americas Securities LLC acquired a new stake in Bank of Marin Bancorp in the third quarter valued at approximately $122,000. XTX Topco Ltd acquired a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $168,000. Hsbc Holdings PLC grew its stake in Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after acquiring an additional 2,131 shares during the period. Finally, Sei Investments Co. grew its stake in Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after acquiring an additional 2,700 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BMRC has been the subject of a number of research reports. Stephens raised Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th.

Bank of Marin Bancorp Stock Down 0.1 %

Bank of Marin Bancorp stock opened at $24.75 on Monday. The business has a 50-day simple moving average of $23.91 and a 200 day simple moving average of $20.42. The stock has a market cap of $397.98 million, a price-to-earnings ratio of -28.78 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 posted its earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The business had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same quarter last year, the company earned $0.33 EPS. On average, research analysts anticipate that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.04%. Bank of Marin Bancorp’s dividend payout ratio is currently -116.28%.

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.