Advisor Group Inc. boosted its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 392.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,132 shares of the bank’s stock after buying an additional 902 shares during the quarter. Advisor Group Inc.’s holdings in Bank of Marin Bancorp were worth $47,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Bank of Marin Bancorp by 104.3% during the 4th quarter. BlackRock Inc. now owns 1,144,009 shares of the bank’s stock worth $47,178,000 after purchasing an additional 584,103 shares during the period. Confluence Investment Management LLC lifted its stake in shares of Bank of Marin Bancorp by 66.2% during the 4th quarter. Confluence Investment Management LLC now owns 121,815 shares of the bank’s stock worth $5,023,000 after purchasing an additional 48,531 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Bank of Marin Bancorp by 109.6% during the 4th quarter. Bank of New York Mellon Corp now owns 81,462 shares of the bank’s stock worth $3,360,000 after purchasing an additional 42,594 shares during the period. John W. Rosenthal Capital Management Inc. lifted its stake in shares of Bank of Marin Bancorp by 100.0% during the 4th quarter. John W. Rosenthal Capital Management Inc. now owns 65,000 shares of the bank’s stock worth $2,680,000 after purchasing an additional 32,500 shares during the period. Finally, Banc Funds Co. LLC lifted its stake in shares of Bank of Marin Bancorp by 25.3% during the 4th quarter. Banc Funds Co. LLC now owns 110,756 shares of the bank’s stock worth $4,511,000 after purchasing an additional 22,378 shares during the period. 43.27% of the stock is currently owned by hedge funds and other institutional investors.
In other Bank of Marin Bancorp news, CEO Russell A. Colombo sold 2,553 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $42.10, for a total value of $107,481.30. Following the sale, the chief executive officer now owns 65,409 shares in the company, valued at $2,753,718.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Pelham sold 2,818 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $41.93, for a total transaction of $118,158.74. Following the completion of the sale, the insider now owns 16,981 shares in the company, valued at approximately $712,013.33. The disclosure for this sale can be found here. Corporate insiders own 5.29% of the company’s stock.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.11). The company had revenue of $25.62 million during the quarter, compared to analyst estimates of $26.39 million. Bank of Marin Bancorp had a net margin of 31.44% and a return on equity of 10.88%. On average, sell-side analysts forecast that Bank of Marin Bancorp will post 2.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.81%. Bank of Marin Bancorp’s payout ratio is currently 32.62%.
BMRC has been the topic of a number of recent analyst reports. DA Davidson reissued a “neutral” rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd. BidaskClub upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 15th. Finally, Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.75.
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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.
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