BNP Paribas Financial Markets Sells 27,015 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

BNP Paribas Financial Markets reduced its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 88.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,407 shares of the bank’s stock after selling 27,015 shares during the period. BNP Paribas Financial Markets’ holdings in Bank of Marin Bancorp were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BMRC. Quantbot Technologies LP acquired a new position in Bank of Marin Bancorp in the third quarter valued at about $74,000. Charles Schwab Investment Management Inc. raised its position in shares of Bank of Marin Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 2,842 shares during the period. Empowered Funds LLC boosted its stake in Bank of Marin Bancorp by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after acquiring an additional 1,072 shares during the last quarter. Creative Planning acquired a new position in Bank of Marin Bancorp during the third quarter valued at approximately $361,000. Finally, Exchange Traded Concepts LLC bought a new stake in Bank of Marin Bancorp in the third quarter valued at approximately $292,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BMRC shares. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. DA Davidson upgraded 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. Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Bank of Marin Bancorp Trading Down 1.2 %

BMRC stock opened at $23.15 on Friday. The stock has a 50-day moving average price of $24.20 and a two-hundred day moving average price of $20.59. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The stock has a market cap of $372.32 million, a PE ratio of -26.92 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period last year, the company earned $0.33 earnings per share. On average, analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

About Bank of Marin Bancorp

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.