United Capital Financial Advisors LLC Takes $960,000 Position in Bank of Marin Bancorp $BMRC

United Capital Financial Advisors LLC bought a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,641 shares of the bank’s stock, valued at approximately $960,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of America Corp DE purchased a new stake in shares of Bank of Marin Bancorp during the second quarter valued at $678,000. Legal & General Group Plc purchased a new stake in Bank of Marin Bancorp in the second quarter worth about $43,000. The Manufacturers Life Insurance Company bought a new position in Bank of Marin Bancorp during the 2nd quarter worth about $12,642,000. Algert Global LLC purchased a new position in Bank of Marin Bancorp during the second quarter valued at approximately $2,574,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at $1,115,000. 52.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BMRC. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. DA Davidson set a $34.00 price objective on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Brean Capital lowered shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC opened at $26.63 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.72. Bank of Marin Bancorp has a 1-year low of $22.50 and a 1-year high of $30.92. The company has a market cap of $431.14 million, a price-to-earnings ratio of -29.26 and a beta of 0.79. The stock’s 50-day moving average is $28.12 and its two-hundred day moving average is $26.60.

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, topping analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The company had revenue of $33.95 million during the quarter, compared to the consensus estimate of $34.02 million. Analysts forecast that Bank of Marin Bancorp will post 2.31 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Bank of Marin Bancorp’s payout ratio is -109.89%.

Bank of Marin Bancorp Profile

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.