Proficio Capital Partners LLC Buys Shares of 57,785 Bank of Marin Bancorp (NASDAQ:BMRC)

Proficio Capital Partners LLC bought a new stake in Bank of Marin Bancorp (NASDAQ:BMRC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 57,785 shares of the bank’s stock, valued at approximately $1,374,000. Proficio Capital Partners LLC owned about 0.36% of Bank of Marin Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new stake in shares of Bank of Marin Bancorp during the third quarter worth about $3,411,000. Zacks Investment Management purchased a new stake in shares of Bank of Marin Bancorp during the third quarter worth about $2,195,000. Creative Planning purchased a new stake in shares of Bank of Marin Bancorp during the third quarter worth about $361,000. Barclays PLC grew its stake in shares of Bank of Marin Bancorp by 46.1% during the third quarter. Barclays PLC now owns 45,370 shares of the bank’s stock worth $911,000 after acquiring an additional 14,306 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth about $214,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Down 0.5 %

Shares of NASDAQ:BMRC opened at $23.29 on Friday. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The company has a market capitalization of $374.57 million, a PE ratio of -44.79 and a beta of 0.91. The business has a 50 day moving average of $24.16 and a two-hundred day moving average of $23.15.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same period in the prior year, the firm earned $0.04 earnings per share. Equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, February 6th. Bank of Marin Bancorp’s payout ratio is -192.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMRC shares. Keefe, Bruyette & Woods boosted their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Wednesday, January 29th.

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.