Bank of Marin Bancorp (NASDAQ:BMRC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 362,376 shares of the bank’s stock after buying an additional 6,555 shares during the period. Geode Capital Management LLC’s holdings in Bank of Marin Bancorp were worth $7,282,000 as of its most recent SEC filing.

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

Bank of Marin Bancorp Price Performance

BMRC opened at $23.51 on Friday. The stock has a market capitalization of $378.11 million, a PE ratio of -27.34 and a beta of 0.93. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The firm’s fifty day moving average price is $24.56 and its 200 day moving average price is $21.20.

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

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.25%. Bank of Marin Bancorp’s payout ratio is -116.28%.

Analyst Upgrades and Downgrades

BMRC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 10th. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Thursday.

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.