Short Interest in Bank of Marin Bancorp (NASDAQ:BMRC) Rises By 9.5%

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 626,700 shares, a growth of 9.5% from the November 30th total of 572,200 shares. Based on an average daily trading volume, of 65,300 shares, the days-to-cover ratio is presently 9.6 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Stephens raised shares of Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Bank of Marin Bancorp

Large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in Bank of Marin Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after acquiring an additional 656 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Bank of Marin Bancorp by 104.4% during the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 50,874 shares during the period. Choreo LLC acquired a new position in shares of Bank of Marin Bancorp during the second quarter worth $426,000. Dimensional Fund Advisors LP boosted its stake in shares of Bank of Marin Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after purchasing an additional 33,280 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Bank of Marin Bancorp by 29.5% during the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 34,200 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

NASDAQ BMRC opened at $23.77 on Thursday. The firm has a market capitalization of $382.29 million, a price-to-earnings ratio of -27.64 and a beta of 0.93. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $27.11. The company’s 50 day moving average price is $24.52 and its 200 day moving average price is $21.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The business had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. During the same quarter last year, the firm posted $0.33 EPS. Sell-side analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

About Bank of Marin Bancorp

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.