State Board of Administration of Florida Retirement System Makes New Investment in Bank of Marin Bancorp (NASDAQ:BMRC)

State Board of Administration of Florida Retirement System bought a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 7,346 shares of the bank’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Ocean LLC raised its holdings in shares of Bank of Marin Bancorp by 18.1% in the 4th quarter. Private Ocean LLC now owns 2,941 shares of the bank’s stock worth $97,000 after purchasing an additional 451 shares during the period. Private Wealth Partners LLC grew its stake in shares of Bank of Marin Bancorp by 100.0% during the fourth quarter. Private Wealth Partners LLC now owns 36,000 shares of the bank’s stock valued at $1,184,000 after buying an additional 18,000 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bank of Marin Bancorp by 31.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 10,722 shares of the bank’s stock valued at $353,000 after buying an additional 2,578 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Bank of Marin Bancorp by 7.4% during the third quarter. Bank of New York Mellon Corp now owns 75,829 shares of the bank’s stock worth $2,271,000 after purchasing an additional 5,221 shares during the period. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of Bank of Marin Bancorp by 45.7% during the third quarter. BNP Paribas Arbitrage SNC now owns 7,517 shares of the bank’s stock worth $225,000 after purchasing an additional 2,356 shares during the period. Institutional investors own 48.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Bank of Marin Bancorp in a research report on Thursday. They set a “sell” rating on the stock. Janney Montgomery Scott raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, March 2nd. Finally, TheStreet lowered Bank of Marin Bancorp from a “b” rating to a “c+” rating in a research note on Tuesday, February 14th.

Insider Activity

In related news, Director Russell A. Colombo sold 2,200 shares of the business’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $29.85, for a total transaction of $65,670.00. Following the completion of the transaction, the director now directly owns 34,861 shares of the company’s stock, valued at approximately $1,040,600.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bank of Marin Bancorp news, Director Kevin R. Kennedy bought 5,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $15.15 per share, with a total value of $75,750.00. Following the purchase, the director now owns 22,615 shares in the company, valued at approximately $342,617.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Russell A. Colombo sold 2,200 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $29.85, for a total value of $65,670.00. Following the transaction, the director now directly owns 34,861 shares of the company’s stock, valued at $1,040,600.85. The disclosure for this sale can be found here. Insiders bought a total of 7,984 shares of company stock valued at $118,774 in the last 90 days. Company insiders own 4.72% of the company’s stock.

Bank of Marin Bancorp Stock Down 3.6 %

BMRC stock opened at $16.45 on Monday. Bank of Marin Bancorp has a twelve month low of $12.89 and a twelve month high of $36.78. The stock has a market capitalization of $265.01 million, a price-to-earnings ratio of 5.77 and a beta of 0.70. The firm’s fifty day simple moving average is $19.80 and its two-hundred day simple moving average is $27.83.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last released its quarterly 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 for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts expect that Bank of Marin Bancorp will post 1.93 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared 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 (DPR) is 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.