Bank of Marin Bancorp (NASDAQ:BMRC) Sees Large Increase in Short Interest

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 612,800 shares, an increase of 7.9% from the July 31st total of 567,800 shares. Based on an average daily volume of 95,400 shares, the days-to-cover ratio is presently 6.4 days.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stephens reissued an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently bought and sold shares of BMRC. Wealthspire Advisors LLC acquired a new position in Bank of Marin Bancorp in the fourth quarter worth $355,000. BNP Paribas Financial Markets raised its holdings in shares of Bank of Marin Bancorp by 38.6% in the fourth quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock valued at $377,000 after buying an additional 4,762 shares during the last quarter. Trexquant Investment LP acquired a new position in Bank of Marin Bancorp during the 4th quarter worth about $432,000. PNC Financial Services Group Inc. grew its holdings in Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Bridge City Capital LLC increased its position in Bank of Marin Bancorp by 17.9% in the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after acquiring an additional 1,747 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $21.39 on Monday. The firm has a market capitalization of $348.23 million, a P/E ratio of 25.77 and a beta of 0.93. The stock has a fifty day moving average price of $18.83 and a two-hundred day moving average price of $16.92. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.13). The firm had revenue of $37.12 million for the quarter, compared to the consensus estimate of $25.85 million. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. During the same period in the prior year, the business earned $0.28 earnings per share. On average, equities research analysts predict that Bank of Marin Bancorp will post 0.47 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Thursday, August 8th. Bank of Marin Bancorp’s payout ratio is currently 120.48%.

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.