Bank of Marin Bancorp (NASDAQ:BMRC) Holdings Cut by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 38.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,000 shares of the bank’s stock after selling 10,000 shares during the period. Diamond Hill Capital Management Inc. owned about 0.10% of Bank of Marin Bancorp worth $321,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BMRC. Acadian Asset Management LLC bought a new stake in shares of Bank of Marin Bancorp during the first quarter valued at approximately $816,000. ProShare Advisors LLC raised its holdings in shares of 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 buying an additional 79,291 shares during the last quarter. Choreo LLC acquired a new position in shares of Bank of Marin Bancorp during the second quarter valued at approximately $426,000. AQR Capital Management LLC acquired a new position in shares of Bank of Marin Bancorp during the second quarter valued at approximately $709,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Bank of Marin Bancorp during the second quarter valued at approximately $396,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

NASDAQ BMRC opened at $26.32 on Tuesday. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $26.40. The stock has a market cap of $428.49 million, a price-to-earnings ratio of -30.60 and a beta of 0.90. The firm’s 50 day moving average price is $21.29 and its two-hundred day moving average price is $18.67.

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 the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the previous year, the company posted $0.33 EPS. On average, research analysts forecast that Bank of Marin Bancorp will post 0.88 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is presently -116.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

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.