Charles Schwab Investment Management Inc. Sells 1,219 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Charles Schwab Investment Management Inc. cut its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,767 shares of the bank’s stock after selling 1,219 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Bank of Marin Bancorp worth $2,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BMRC. State Street Corp increased its holdings in shares of Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after acquiring an additional 3,073 shares during the last quarter. Geode Capital Management LLC boosted its position in Bank of Marin Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after purchasing an additional 6,555 shares during the period. Basswood Capital Management L.L.C. acquired a new position in Bank of Marin Bancorp during the third quarter valued at approximately $3,411,000. Zacks Investment Management bought a new position in shares of Bank of Marin Bancorp in the third quarter valued at approximately $2,195,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter worth $1,374,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Price Performance

Shares of Bank of Marin Bancorp stock opened at $22.46 on Friday. The firm has a fifty day moving average price of $23.93 and a two-hundred day moving average price of $23.33. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The company has a market cap of $361.99 million, a PE ratio of -43.19 and a beta of 0.91.

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

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio is presently -192.31%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMRC. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Stephens reiterated an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price objective 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.

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.