Jane Street Group LLC Cuts Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Jane Street Group LLC lowered its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,647 shares of the bank’s stock after selling 4,020 shares during the period. Jane Street Group LLC’s holdings in Bank of Marin Bancorp were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BMRC. Dimensional Fund Advisors LP grew its stake in Bank of Marin Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock valued at $11,595,000 after acquiring an additional 33,280 shares in the last quarter. State Street Corp grew its stake in Bank of Marin Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after acquiring an additional 3,073 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Bank of Marin Bancorp during the 3rd quarter valued at about $3,411,000. Renaissance Technologies LLC grew its stake 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 acquiring an additional 34,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Bank of Marin Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 2,842 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

Bank of Marin Bancorp stock opened at $22.31 on Friday. The firm has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $21.60. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The stock has a market cap of $358.81 million, a price-to-earnings ratio of -25.94 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.33 EPS. Equities analysts expect that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. Bank of Marin Bancorp’s payout ratio is currently -116.28%.

Analyst Ratings Changes

Several analysts recently issued reports on BMRC shares. 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. Keefe, Bruyette & Woods increased 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 research note on Wednesday, December 4th. Stephens reissued an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. Finally, DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, October 10th.

Bank of Marin Bancorp 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.