Perigon Wealth Management LLC acquired a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,887 shares of the bank’s stock, valued at approximately $1,687,000. Perigon Wealth Management LLC owned about 0.38% of Bank of Marin Bancorp as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of BMRC. AQR Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 43.4% in the first quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock valued at $877,000 after purchasing an additional 12,019 shares during the period. Jones Financial Companies Lllp grew its stake in Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after buying an additional 8,242 shares in the last quarter. Empowered Funds LLC raised its holdings in Bank of Marin Bancorp by 8.3% during the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares during the period. Jane Street Group LLC bought a new stake in Bank of Marin Bancorp during the 1st quarter valued at $441,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Bank of Marin Bancorp during the second quarter worth $70,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.
Bank of Marin Bancorp Price Performance
Shares of NASDAQ BMRC opened at $28.16 on Tuesday. The firm has a market capitalization of $456.02 million, a P/E ratio of -30.94 and a beta of 0.79. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $26.60. Bank of Marin Bancorp has a twelve month low of $22.50 and a twelve month high of $30.92.
Bank of Marin Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio is currently -109.89%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on BMRC shares. Piper Sandler reiterated a “neutral” rating and set a $30.00 price objective (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.
Check Out Our Latest Stock Report on Bank of Marin Bancorp
About Bank of Marin Bancorp
Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.
The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.
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