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

Bank of Marin Bancorp (NASDAQ:BMRC) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 719,500 shares, a drop of 8.2% from the March 15th total of 783,900 shares. Based on an average daily trading volume, of 64,100 shares, the days-to-cover ratio is currently 11.2 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BMRC shares. DA Davidson decreased their target price on Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Stephens cut their price target on Bank of Marin Bancorp from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th.

Bank of Marin Bancorp Trading Down 0.3 %

Shares of Bank of Marin Bancorp stock traded down $0.04 during trading on Tuesday, hitting $15.00. 54,362 shares of the stock traded hands, compared to its average volume of 63,415. The firm has a market cap of $244.50 million, a P/E ratio of 12.10 and a beta of 0.85. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24. The stock’s fifty day simple moving average is $16.60 and its 200 day simple moving average is $18.52.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 29th. The bank reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The firm had revenue of $20.98 million during the quarter, compared to the consensus estimate of $27.50 million. Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. As a group, equities analysts expect that Bank of Marin Bancorp will post 1.23 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.00 annualized dividend and a dividend yield of 6.67%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 80.65%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Bank of Marin Bancorp by 8.9% during the second quarter. BlackRock Inc. now owns 1,528,221 shares of the bank’s stock valued at $27,004,000 after acquiring an additional 124,669 shares during the last quarter. Vanguard Group Inc. lifted its position in Bank of Marin Bancorp by 1.3% during the third quarter. Vanguard Group Inc. now owns 889,025 shares of the bank’s stock valued at $16,251,000 after acquiring an additional 11,161 shares during the last quarter. Alliancebernstein L.P. lifted its position in Bank of Marin Bancorp by 17.6% during the second quarter. Alliancebernstein L.P. now owns 792,866 shares of the bank’s stock valued at $14,010,000 after acquiring an additional 118,908 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Bank of Marin Bancorp by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 792,529 shares of the bank’s stock valued at $17,349,000 after acquiring an additional 29,716 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Bank of Marin Bancorp by 14.4% during the first quarter. The Manufacturers Life Insurance Company now owns 761,742 shares of the bank’s stock valued at $26,714,000 after acquiring an additional 96,155 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.