Bank of New York Mellon Corp Reduces Stock Holdings in Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of New York Mellon Corp reduced its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,959 shares of the bank’s stock after selling 16,448 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Bank of Marin Bancorp worth $1,782,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BMRC. Empowered Funds LLC boosted its holdings in shares of Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after acquiring an additional 1,072 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of Marin Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 2,842 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $74,000. Basswood Capital Management L.L.C. purchased a new stake in Bank of Marin Bancorp during the third quarter worth $3,411,000. Finally, State Street Corp boosted its holdings in 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 buying an additional 3,073 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $22.09 on Friday. The company has a fifty day moving average of $23.98 and a two-hundred day moving average of $23.30. The stock has a market capitalization of $356.02 million, a PE ratio of -42.48 and a beta of 0.91. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted 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 5.52% and a positive return on equity of 3.33%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders 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 yield of 4.53%. The ex-dividend date was Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio is presently -192.31%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMRC. Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and set a $30.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th.

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.