Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Down 8.3% in August

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 698,800 shares, a decrease of 8.3% from the August 15th total of 761,900 shares. Based on an average daily trading volume, of 81,600 shares, the short-interest ratio is presently 8.6 days.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds have recently modified their holdings of the business. Osterweis Capital Management Inc. acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at about $28,000. Lazard Asset Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at about $29,000. Signaturefd LLC raised its position in shares of Bank of Marin Bancorp by 738.7% in the first quarter. Signaturefd LLC now owns 1,451 shares of the bank’s stock valued at $32,000 after buying an additional 1,278 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Bank of Marin Bancorp by 642.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the bank’s stock valued at $38,000 after buying an additional 1,491 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Bank of Marin Bancorp by 44.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,852 shares of the bank’s stock valued at $61,000 after buying an additional 568 shares during the last quarter. 55.17% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Price Performance

BMRC opened at $18.58 on Tuesday. The company has a market cap of $299.51 million, a price-to-earnings ratio of 7.61 and a beta of 0.74. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $36.78. The firm’s fifty day simple moving average is $19.66 and its two-hundred day simple moving average is $19.71.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, July 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.17). The company had revenue of $37.36 million for the quarter, compared to analysts’ expectations of $29.10 million. Bank of Marin Bancorp had a net margin of 26.43% and a return on equity of 9.39%. During the same period in the previous year, the business earned $0.71 earnings per share. On average, research analysts forecast that Bank of Marin Bancorp will post 1.5 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, August 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend was Thursday, August 3rd. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 40.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on BMRC shares. DA Davidson increased their price target on shares of Bank of Marin Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, July 25th. Stephens increased their price target on shares of Bank of Marin Bancorp from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods lowered their price target on shares of Bank of Marin Bancorp from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, July 25th. Finally, StockNews.com initiated coverage on shares of Bank of Marin Bancorp in a report on Thursday, August 17th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.80.

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.