Bank of Marin Bancorp (NASDAQ:BMRC) Sees Significant Drop in Short Interest

Bank of Marin Bancorp (NASDAQ:BMRC) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 108,200 shares, a decline of 6.7% from the December 15th total of 116,000 shares. Based on an average trading volume of 22,800 shares, the short-interest ratio is presently 4.7 days. Approximately 0.9% of the company’s stock are short sold.

A number of brokerages recently issued reports on BMRC. ValuEngine upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, December 30th. BidaskClub lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. Finally, Zacks Investment Research lowered shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

In other Bank of Marin Bancorp news, Director H Robert Heller sold 1,668 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $44.73, for a total value of $74,609.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Pelham sold 3,245 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $43.78, for a total transaction of $142,066.10. Following the completion of the sale, the executive vice president now directly owns 6,957 shares of the company’s stock, valued at $304,577.46. The disclosure for this sale can be found here. Insiders sold 17,814 shares of company stock valued at $797,715 over the last three months. Insiders own 5.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BMRC. Anchor Capital Advisors LLC boosted its holdings in Bank of Marin Bancorp by 0.6% in the third quarter. Anchor Capital Advisors LLC now owns 39,095 shares of the bank’s stock valued at $1,622,000 after acquiring an additional 235 shares during the last quarter. California State Teachers Retirement System increased its holdings in Bank of Marin Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 20,859 shares of the bank’s stock worth $865,000 after acquiring an additional 249 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Bank of Marin Bancorp by 1.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,592 shares of the bank’s stock worth $886,000 after acquiring an additional 307 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Bank of Marin Bancorp by 648.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,460 shares of the bank’s stock worth $59,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Bank of Marin Bancorp by 31.8% in the 2nd quarter. Bank of Montreal Can now owns 5,274 shares of the bank’s stock worth $217,000 after acquiring an additional 1,272 shares during the last quarter. 44.28% of the stock is owned by institutional investors and hedge funds.

BMRC stock traded up $0.33 during midday trading on Thursday, reaching $45.08. 163 shares of the company were exchanged, compared to its average volume of 25,730. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average price of $45.22 and a two-hundred day moving average price of $43.23. Bank of Marin Bancorp has a one year low of $38.74 and a one year high of $47.77. The firm has a market capitalization of $599.65 million, a price-to-earnings ratio of 19.36 and a beta of 0.54.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.08. Bank of Marin Bancorp had a net margin of 31.54% and a return on equity of 10.73%. The firm had revenue of $26.87 million during the quarter, compared to analysts’ expectations of $26.19 million. As a group, analysts anticipate that Bank of Marin Bancorp will post 2.44 earnings per share for the current fiscal year.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

Recommended Story: What is Liquidity?

Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.