Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Update

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 703,200 shares, an increase of 8.8% from the September 15th total of 646,600 shares. Based on an average trading volume of 94,500 shares, the short-interest ratio is currently 7.4 days.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock traded up $0.01 on Thursday, hitting $22.33. The company had a trading volume of 42,253 shares, compared to its average volume of 77,714. The stock has a market capitalization of $363.67 million, a price-to-earnings ratio of 26.89 and a beta of 0.92. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $23.24. The stock has a 50 day moving average of $20.17 and a 200-day moving average of $17.78.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, July 29th. The bank reported $0.06 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.13). The company had revenue of $37.12 million during the quarter, compared to analysts’ expectations of $25.85 million. Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. During the same period last year, the company earned $0.28 earnings per share. Equities analysts anticipate that Bank of Marin Bancorp will post 0.47 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp’s payout ratio is 120.48%.

Institutional Trading of Bank of Marin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its position in shares of Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after acquiring an additional 656 shares during the last quarter. Riverview Trust Co increased its position in shares of Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,001 shares during the last quarter. CWM LLC increased its position in shares of Bank of Marin Bancorp by 129.2% during the second 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. Bridge City Capital LLC increased its position in shares of Bank of Marin Bancorp by 17.9% during the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after acquiring an additional 1,747 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Bank of Marin Bancorp by 348.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock valued at $52,000 after acquiring an additional 1,832 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMRC has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price target on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stephens reiterated an “equal weight” rating and issued a $16.00 price target on shares of Bank of Marin Bancorp in a report on Thursday, June 27th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, October 10th.

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.