Barclays PLC Increases Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Barclays PLC grew its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 46.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,370 shares of the bank’s stock after buying an additional 14,306 shares during the quarter. Barclays PLC owned 0.28% of Bank of Marin Bancorp worth $911,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Bank of Marin Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares during the period. Zacks Investment Management acquired a new position in Bank of Marin Bancorp in the third quarter valued at $2,195,000. State Street Corp increased its position in Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after purchasing an additional 3,073 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter valued at $3,411,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Bank of Marin Bancorp in the third quarter valued at about $74,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Up 2.0 %

NASDAQ BMRC opened at $23.10 on Wednesday. The stock’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $21.74. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The company has a market cap of $371.52 million, a PE ratio of -26.86 and a beta of 0.93.

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

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued 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 4.33%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -116.28%.

Wall Street Analyst Weigh In

BMRC has been the subject of several recent analyst reports. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods increased their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th.

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.