Short Interest in Bank of Marin Bancorp (NASDAQ:BMRC) Expands By 6.4%

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 783,900 shares, a growth of 6.4% from the February 29th total of 736,900 shares. Based on an average daily trading volume, of 61,400 shares, the short-interest ratio is presently 12.8 days.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of large investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Bank of Marin Bancorp in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC increased its stake 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 worth $38,000 after acquiring an additional 1,491 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Bank of Marin Bancorp by 348.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after acquiring an additional 1,832 shares during the period. Citigroup Inc. increased its stake in shares of Bank of Marin Bancorp by 754.8% in the second quarter. Citigroup Inc. now owns 5,411 shares of the bank’s stock worth $96,000 after acquiring an additional 4,778 shares during the period. Finally, Captrust Financial Advisors grew its position in Bank of Marin Bancorp by 54.9% during the first quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock valued at $111,000 after buying an additional 1,124 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Trading Up 0.9 %

BMRC stock traded up $0.14 on Wednesday, hitting $16.18. The company had a trading volume of 11,028 shares, compared to its average volume of 63,554. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24. The stock’s 50-day simple moving average is $17.50 and its 200 day simple moving average is $18.73. The stock has a market cap of $261.95 million, a price-to-earnings ratio of 12.94 and a beta of 0.85.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $20.98 million for the quarter, compared to the consensus estimate of $27.50 million. Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. Research analysts forecast that Bank of Marin Bancorp will post 1.23 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.18%. Bank of Marin Bancorp’s dividend payout ratio is presently 80.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BMRC shares. DA Davidson reduced their price target on Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. Stephens lowered their price objective on Bank of Marin Bancorp from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th.

View Our Latest Report on Bank of Marin Bancorp

About Bank of Marin Bancorp

(Get Free Report)

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.

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