Assenagon Asset Management S.A. Makes New Investment in Bank of Marin Bancorp (NASDAQ:BMRC)

Assenagon Asset Management S.A. purchased a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 24,462 shares of the bank’s stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC lifted its stake in Bank of Marin Bancorp by 21.4% during the first quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock valued at $7,546,000 after purchasing an additional 79,291 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Bank of Marin Bancorp in the first quarter valued at $816,000. Trexquant Investment LP acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter valued at $432,000. Fiduciary Financial Group LLC bought a new stake in shares of Bank of Marin Bancorp during the 2nd quarter worth $287,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth $355,000. Institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BMRC shares. Stephens reaffirmed an “equal weight” rating and set a $16.00 target price on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, DA Davidson decreased their target price on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Up 4.9 %

BMRC opened at $20.49 on Friday. The firm has a market capitalization of $333.70 million, a P/E ratio of 24.69 and a beta of 0.93. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $16.79. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data 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). Bank of Marin Bancorp had a positive return on equity of 3.26% and a negative net margin of 9.09%. The business had revenue of $37.12 million during the quarter, compared to analysts’ expectations of $25.85 million. During the same period in the prior year, the company posted $0.28 earnings per share. On average, analysts expect that Bank of Marin Bancorp will post 0.82 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

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.