Bank of Marin Bancorp (NASDAQ:BMRC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,376 shares of the bank’s stock after acquiring an additional 6,555 shares during the quarter. Geode Capital Management LLC owned about 2.25% of Bank of Marin Bancorp worth $7,282,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its stake in Bank of Marin Bancorp by 46.1% in the 3rd quarter. Barclays PLC now owns 45,370 shares of the bank’s stock valued at $911,000 after purchasing an additional 14,306 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Bank of Marin Bancorp during the third quarter worth about $2,195,000. State Street Corp raised its position in shares of Bank of Marin Bancorp by 0.9% in the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after buying an additional 3,073 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in shares of Bank of Marin Bancorp during the third quarter valued at approximately $3,411,000. Finally, Quantbot Technologies LP acquired a new stake in Bank of Marin Bancorp during the third quarter worth approximately $74,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 1.1 %

BMRC stock opened at $23.51 on Friday. The company has a market cap of $378.11 million, a price-to-earnings ratio of -27.34 and a beta of 0.93. The business has a fifty day simple moving average of $24.56 and a 200-day simple moving average of $21.20. 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 quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm 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 quarter in the previous year, the business earned $0.33 earnings per share. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 4.25%. Bank of Marin Bancorp’s payout ratio is -116.28%.

Analysts Set New Price Targets

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

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.