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

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

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Bank of Marin Bancorp in the third quarter valued at $361,000. Exchange Traded Concepts LLC bought a new stake in Bank of Marin Bancorp during the third quarter worth about $292,000. SG Americas Securities LLC purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter worth about $122,000. AQR Capital Management LLC bought a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $709,000. Finally, Squarepoint Ops LLC lifted its position in Bank of Marin Bancorp by 39.5% in the 2nd quarter. Squarepoint Ops LLC now owns 36,850 shares of the bank’s stock worth $597,000 after buying an additional 10,438 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMRC has been the topic of a number of recent analyst reports. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th. Stephens restated an “equal weight” rating and issued a $16.00 price target on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods boosted 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 Price Performance

Shares of BMRC stock traded up $0.30 on Tuesday, hitting $22.10. The stock had a trading volume of 102,223 shares, compared to its average volume of 77,209. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $23.24. The stock has a market cap of $359.92 million, a price-to-earnings ratio of 26.73 and a beta of 0.92. The business has a 50 day moving average of $20.01 and a 200 day moving average of $17.71.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.13). The company had revenue of $37.12 million for the quarter, compared to the consensus estimate of $25.85 million. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, research analysts expect that Bank of Marin Bancorp will post 0.47 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.52%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 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.