Empowered Funds LLC Acquires 1,072 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Empowered Funds LLC boosted its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,644 shares of the bank’s stock after acquiring an additional 1,072 shares during the quarter. Empowered Funds LLC owned about 0.14% of Bank of Marin Bancorp worth $455,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of Bank of Marin Bancorp in the 1st quarter worth approximately $202,000. CWM LLC lifted its position in Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after buying an additional 1,096 shares during the last quarter. Riverview Trust Co boosted its stake in Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after buying an additional 1,001 shares during the period. Fiduciary Financial Group LLC bought a new position in Bank of Marin Bancorp during the second quarter valued at $287,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Bank of Marin Bancorp in the second quarter valued at $396,000. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $26.22 on Monday. The stock has a market cap of $421.62 million, a price-to-earnings ratio of -30.49 and a beta of 0.90. The firm has a 50-day moving average of $22.37 and a two-hundred day moving average of $19.43. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $26.94.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced 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. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. Research analysts expect that Bank of Marin Bancorp will post 0.88 earnings per share for the current 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 paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 3.81%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Analysts Set New Price Targets

BMRC has been the subject of a number of recent analyst reports. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods boosted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, October 10th.

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.