Bank of Marin Bancorp (NASDAQ:BMRC) Sees Significant Decrease in Short Interest

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 669,900 shares, a drop of 14.2% from the June 30th total of 781,000 shares. Based on an average trading volume of 82,700 shares, the short-interest ratio is presently 8.1 days.

Analyst Upgrades and Downgrades

BMRC has been the subject of several recent analyst reports. Stephens reissued an “equal weight” rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. DA Davidson cut their price target on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 price objective on shares of Bank of Marin Bancorp in a research report on Friday, June 28th.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake 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 last quarter. Riverview Trust Co increased its stake in shares of Bank of Marin Bancorp by 105.5% in the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after buying an additional 1,001 shares during the period. PNC Financial Services Group Inc. boosted its position in Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after buying an additional 1,832 shares during the period. Bridge City Capital LLC boosted its position in Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after buying an additional 1,747 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Bank of Marin Bancorp by 29.7% in the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock worth $202,000 after acquiring an additional 2,105 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Up 8.7 %

Shares of Bank of Marin Bancorp stock traded up $1.71 during trading on Tuesday, hitting $21.32. 174,522 shares of the stock traded hands, compared to its average volume of 74,033. The firm’s fifty day moving average is $16.81 and its 200-day moving average is $16.91. The stock has a market cap of $347.30 million, a price-to-earnings ratio of 23.63 and a beta of 0.93. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.06 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.13). The business had revenue of $37.12 million for the quarter, compared to analysts’ expectations of $25.85 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same period last year, the business posted $0.28 earnings per share. On average, analysts forecast that Bank of Marin Bancorp will post 0.93 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio is presently 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.