Russell Investments Group Ltd. Has $2.17 Million Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Russell Investments Group Ltd. boosted its stake in Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,060 shares of the bank’s stock after purchasing an additional 2,415 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Bank of Marin Bancorp worth $2,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BMRC. JPMorgan Chase & Co. increased its holdings in Bank of Marin Bancorp by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock valued at $259,000 after purchasing an additional 486 shares during the period. MetLife Investment Management LLC grew its holdings in Bank of Marin Bancorp by 59.8% during the 1st quarter. MetLife Investment Management LLC now owns 8,295 shares of the bank’s stock worth $291,000 after acquiring an additional 3,103 shares during the period. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock worth $25,344,000 after acquiring an additional 21,712 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Bank of Marin Bancorp by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 115,161 shares of the bank’s stock worth $4,039,000 after acquiring an additional 2,750 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Bank of Marin Bancorp by 6.2% during the 1st quarter. Renaissance Technologies LLC now owns 149,492 shares of the bank’s stock worth $5,243,000 after acquiring an additional 8,700 shares during the period. 48.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of Marin Bancorp

In related news, Director Russell A. Colombo sold 2,200 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $29.85, for a total value of $65,670.00. Following the transaction, the director now owns 34,861 shares of the company’s stock, valued at approximately $1,040,600.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Russell A. Colombo sold 2,200 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $29.85, for a total value of $65,670.00. Following the transaction, the director now owns 34,861 shares of the company’s stock, valued at approximately $1,040,600.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin R. Kennedy purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average cost of $15.15 per share, for a total transaction of $75,750.00. Following the transaction, the director now owns 22,615 shares in the company, valued at approximately $342,617.25. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,984 shares of company stock valued at $118,774. 4.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TheStreet downgraded Bank of Marin Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 14th. StockNews.com assumed coverage on Bank of Marin Bancorp in a report on Thursday. They set a “sell” rating for the company. Finally, Janney Montgomery Scott upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, March 2nd.

Bank of Marin Bancorp Price Performance

Shares of BMRC opened at $16.45 on Monday. The stock has a 50-day moving average of $19.80 and a 200-day moving average of $27.83. The company has a market cap of $265.01 million, a PE ratio of 5.77 and a beta of 0.70. Bank of Marin Bancorp has a one year low of $12.89 and a one year high of $36.78.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last issued its earnings results on Monday, April 24th. The bank reported $0.59 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.10). The firm had revenue of $37.28 million during the quarter, compared to analyst estimates of $35.00 million. Bank of Marin Bancorp had a net margin of 31.45% and a return on equity of 11.11%. During the same quarter in the prior year, the business earned $0.68 earnings per share. Analysts expect that Bank of Marin Bancorp will post 1.93 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, May 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 4th. This represents a $1.00 annualized dividend and a dividend yield of 6.08%. Bank of Marin Bancorp’s dividend payout ratio is presently 35.09%.

Bank of Marin Bancorp Company Profile

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Bank of Marin Bancorp is a bank holding company, which operates through the Bank of Marin, providing financial services to customers. It offers traditional community banking activities and wealth management and trust services, personal and business checking and savings accounts, certificates of deposit, individual retirement accounts, health savings accounts, certificate of deposit account registry services, insured cash sweep, and demand deposit marketplace accounts.