United Capital Financial Advisors LLC bought a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 34,641 shares of the bank’s stock, valued at approximately $960,000. United Capital Financial Advisors LLC owned approximately 0.21% of Bank of Marin Bancorp as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE bought a new position in shares of Bank of Marin Bancorp in the second quarter worth $678,000. Legal & General Group Plc purchased a new position in Bank of Marin Bancorp during the second quarter worth about $43,000. The Manufacturers Life Insurance Company bought a new position in shares of Bank of Marin Bancorp in the second quarter worth approximately $12,642,000. Algert Global LLC bought a new position in Bank of Marin Bancorp in the second quarter valued at $2,574,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bank of Marin Bancorp during the second quarter worth approximately $1,115,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on BMRC. DA Davidson set a $34.00 price target on shares of Bank of Marin Bancorp and gave the company a “buy” rating in a research report on Tuesday, July 28th. Brean Capital cut Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.50.
Bank of Marin Bancorp Stock Performance
Shares of NASDAQ:BMRC opened at $26.63 on Monday. The company has a market cap of $431.14 million, a PE ratio of -29.26 and a beta of 0.79. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $28.12 and a 200 day moving average of $26.60. Bank of Marin Bancorp has a 12-month low of $22.50 and a 12-month high of $30.92.
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The business had revenue of $33.95 million for the quarter, compared to analysts’ expectations of $34.02 million. As a group, equities research analysts expect that Bank of Marin Bancorp will post 2.31 EPS for the current year.
Bank of Marin Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -109.89%.
Bank of Marin Bancorp Company Profile
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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