JPMorgan Chase & Co. Boosts Holdings in Bank of Marin Bancorp (NASDAQ:BMRC)

JPMorgan Chase & Co. grew its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,662 shares of the bank’s stock after purchasing an additional 2,469 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Bank of Marin Bancorp worth $315,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after buying an additional 33,280 shares during the last quarter. State Street Corp grew 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 acquiring an additional 3,073 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $7,282,000 after purchasing an additional 6,555 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in Bank of Marin Bancorp in the 3rd quarter worth approximately $3,411,000. Finally, Charles Schwab Investment Management Inc. grew its position in Bank of Marin Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock worth $2,451,000 after purchasing an additional 2,842 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMRC shares. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Stephens reaffirmed an “overweight” rating and set a $30.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC opened at $25.17 on Friday. The company has a 50 day moving average price of $24.23 and a 200-day moving average price of $22.24. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The firm has a market cap of $404.73 million, a price-to-earnings ratio of -29.27 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period in the prior year, the company earned $0.04 earnings per share. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

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.