Perigon Wealth Management LLC Purchases Shares of 60,887 Bank of Marin Bancorp $BMRC

Perigon Wealth Management LLC purchased a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,887 shares of the bank’s stock, valued at approximately $1,687,000.

Other hedge funds have also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter valued at $31,000. Russell Investments Group Ltd. lifted its stake in Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after buying an additional 1,356 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMRC has been the subject of several analyst reports. DA Davidson set a $34.00 target price on Bank of Marin Bancorp and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Bank of Marin Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods boosted their price objective on Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Brean Capital lowered Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.50.

Bank of Marin Bancorp Price Performance

BMRC stock opened at $28.16 on Tuesday. The stock has a market capitalization of $456.02 million, a price-to-earnings ratio of -30.94 and a beta of 0.79. The firm’s 50-day moving average price is $27.93 and its two-hundred day moving average price is $26.60. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12-month low of $22.50 and a 12-month high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. As a group, equities analysts predict that Bank of Marin Bancorp will post 2.31 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Bank of Marin Bancorp’s payout ratio is presently -109.89%.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.