Bank of Marin Bancorp (NASDAQ:BMRC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 18.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 74,959 shares of the bank’s stock after selling 16,448 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of Marin Bancorp were worth $1,782,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Bank of Marin Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock valued at $7,282,000 after buying an additional 6,555 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Bank of Marin Bancorp by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock valued at $315,000 after buying an additional 2,469 shares during the last quarter. Rhumbline Advisers raised its position in shares of Bank of Marin Bancorp by 6.9% in the fourth quarter. Rhumbline Advisers now owns 25,183 shares of the bank’s stock valued at $599,000 after buying an additional 1,621 shares during the last quarter. State Street Corp raised its position in shares of Bank of Marin Bancorp by 0.9% in the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after buying an additional 3,073 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Bank of Marin Bancorp by 46.1% in the third quarter. Barclays PLC now owns 45,370 shares of the bank’s stock valued at $911,000 after buying an additional 14,306 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Trading Down 1.6 %

Bank of Marin Bancorp stock opened at $22.09 on Friday. The stock has a market cap of $356.02 million, a P/E ratio of -42.48 and a beta of 0.91. The company has a 50-day moving average price of $23.98 and a 200 day moving average price of $23.30. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, analysts forecast that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -192.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of 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. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research report on Wednesday, January 29th.

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.