Perigon Wealth Management LLC Cuts Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Perigon Wealth Management LLC lessened its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,514 shares of the bank’s stock after selling 722 shares during the period. Perigon Wealth Management LLC owned about 0.39% of Bank of Marin Bancorp worth $1,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Bank of Marin Bancorp by 7.1% during the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after acquiring an additional 430 shares in the last quarter. Ballentine Partners LLC acquired a new position in Bank of Marin Bancorp during the 4th quarter worth approximately $214,000. JPMorgan Chase & Co. grew its holdings in Bank of Marin Bancorp by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after acquiring an additional 2,469 shares in the last quarter. Barclays PLC grew its holdings in Bank of Marin Bancorp by 46.1% during the 3rd quarter. Barclays PLC now owns 45,370 shares of the bank’s stock worth $911,000 after acquiring an additional 14,306 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Bank of Marin Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after acquiring an additional 6,555 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

BMRC has been the subject of several analyst reports. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods upped their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th. Finally, Stephens restated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday.

Bank of Marin Bancorp Trading Up 1.7 %

Shares of Bank of Marin Bancorp stock opened at $24.99 on Thursday. The company has a fifty day simple moving average of $24.24 and a 200-day simple moving average of $22.22. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The stock has a market cap of $401.91 million, a price-to-earnings ratio of -29.06 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. 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 in the previous year, the company posted $0.04 earnings per share. On average, analysts forecast that Bank of Marin Bancorp will post 0.9 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, February 13th. Investors of record on Thursday, February 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio is currently -192.31%.

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.