Short Interest in Bank of Marin Bancorp (NASDAQ:BMRC) Rises By 6.5%

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 635,500 shares, an increase of 6.5% from the October 31st total of 596,600 shares. Based on an average trading volume of 74,800 shares, the days-to-cover ratio is presently 8.5 days.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several hedge funds have recently added to or reduced their stakes in BMRC. Rhumbline Advisers grew its stake in Bank of Marin Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after acquiring an additional 656 shares during the period. Riverview Trust Co boosted its position in shares of Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,001 shares during the period. Empowered Funds LLC increased its stake in shares of Bank of Marin Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after acquiring an additional 1,072 shares during the last quarter. CWM LLC grew its stake in Bank of Marin Bancorp by 129.2% in the 2nd quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after buying an additional 1,096 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,131 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Up 1.3 %

Shares of NASDAQ:BMRC opened at $25.60 on Tuesday. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The business’s 50 day moving average is $22.97 and its 200 day moving average is $19.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $27.30 million. During the same quarter in the previous year, the firm posted $0.33 EPS. Analysts forecast that Bank of Marin Bancorp will post 0.88 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, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is currently -116.28%.

Analysts Set New Price Targets

BMRC has been the subject of a number of research reports. StockNews.com downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 11th. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, October 10th.

About Bank of Marin Bancorp

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.