Charles Schwab Investment Management Inc. Boosts Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,986 shares of the bank’s stock after buying an additional 2,842 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bank of Marin Bancorp were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BMRC. Rhumbline Advisers lifted 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 purchasing an additional 656 shares during the last quarter. Empowered Funds LLC increased its position in shares of Bank of Marin Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after acquiring an additional 1,072 shares during the period. CWM LLC increased its position in shares of Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,096 shares during the period. Hsbc Holdings PLC increased its position in shares of Bank of Marin Bancorp by 21.1% in the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after acquiring an additional 2,131 shares during the period. Finally, Sei Investments Co. increased its position in shares of Bank of Marin Bancorp by 23.3% in the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BMRC. Stephens raised Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. DA Davidson raised 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. Finally, Keefe, Bruyette & Woods upped their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $24.75 on Monday. The business’s 50-day moving average is $23.91 and its two-hundred day moving average is $20.42. The company has a market capitalization of $397.98 million, a P/E ratio of -28.78 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The company had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. During the same period last year, the firm earned $0.33 EPS. Analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

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.