Proficio Capital Partners LLC Makes New Investment in Bank of Marin Bancorp (NASDAQ:BMRC)

Proficio Capital Partners LLC acquired a new position in Bank of Marin Bancorp (NASDAQ:BMRC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 57,785 shares of the bank’s stock, valued at approximately $1,374,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BMRC. Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp in the third quarter worth $74,000. SG Americas Securities LLC raised its stake in shares of Bank of Marin Bancorp by 7.1% in the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock valued at $155,000 after buying an additional 430 shares during the period. Ballentine Partners LLC bought a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at $214,000. Angel Oak Capital Advisors LLC bought a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at $214,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Bank of Marin Bancorp by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock valued at $315,000 after buying an additional 2,469 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $22.46 on Friday. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $27.11. The firm has a market cap of $361.99 million, a price-to-earnings ratio of -43.19 and a beta of 0.91. The business’s fifty day moving average is $23.98 and its 200 day moving average is $23.28.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same quarter last year, the business posted $0.04 EPS. Equities analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Thursday, February 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.45%. Bank of Marin Bancorp’s payout ratio is -192.31%.

Analyst Ratings Changes

Several analysts have issued reports on BMRC shares. Keefe, Bruyette & Woods boosted their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens restated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

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.