Bank of Marin Bancorp (NASDAQ:BMRC) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 24.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,647 shares of the bank’s stock after selling 4,020 shares during the period. Jane Street Group LLC owned approximately 0.08% of Bank of Marin Bancorp worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its stake in shares of Bank of Marin Bancorp by 0.9% during the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after buying an additional 3,073 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Bank of Marin Bancorp during the third quarter worth $3,411,000. Quantbot Technologies LP acquired a new stake in shares of Bank of Marin Bancorp during the third quarter worth $74,000. Charles Schwab Investment Management Inc. lifted its position in Bank of Marin Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after purchasing an additional 2,842 shares during the period. Finally, Empowered Funds LLC lifted its position in Bank of Marin Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after purchasing an additional 1,072 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRC has been the subject of a number of research reports. Stephens restated an “overweight” rating and set a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods boosted their target price on shares of 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. DA Davidson upgraded 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 research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $22.31 on Friday. The firm has a 50-day simple moving average of $24.64 and a two-hundred day simple moving average of $21.60. The company has a market cap of $358.81 million, a P/E ratio of -25.94 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share 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 negative net margin of 9.49% and a positive return on equity of 3.05%. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Bank of Marin Bancorp will post 0.9 EPS 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. Shareholders 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 4.48%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -116.28%.

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.