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

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 781,000 shares, a growth of 6.4% from the June 15th total of 734,200 shares. Based on an average trading volume of 74,600 shares, the days-to-cover ratio is presently 10.5 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BMRC shares. Stephens restated an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $21.00 target price on shares of Bank of Marin Bancorp in a report on Friday, June 28th. Finally, DA Davidson lowered their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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. Acadian Asset Management LLC bought a new position in Bank of Marin Bancorp in the 1st quarter valued at about $816,000. Trexquant Investment LP bought a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth about $432,000. Cerity Partners LLC acquired a new stake in shares of Bank of Marin Bancorp in the 4th quarter worth approximately $430,000. Finally, Wealthspire Advisors LLC bought a new position in Bank of Marin Bancorp during the 4th quarter valued at $355,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Stock Up 0.8 %

Shares of BMRC stock opened at $21.33 on Thursday. The company has a market cap of $347.47 million, a P/E ratio of 25.70 and a beta of 0.93. The business has a 50 day moving average of $16.00 and a two-hundred day moving average of $16.95. 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 issued its quarterly earnings data on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The company had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same quarter in the previous year, the company earned $0.59 earnings per share. Analysts expect that Bank of Marin Bancorp will post 0.93 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.69%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

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.