Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Update

Bank of Marin Bancorp (NASDAQ:BMRC) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 719,500 shares, a decrease of 8.2% from the March 15th total of 783,900 shares. Based on an average daily trading volume, of 64,100 shares, the days-to-cover ratio is currently 11.2 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens cut their price objective on shares of 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. DA Davidson cut their price objective on shares of Bank of Marin Bancorp from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently added to or reduced their stakes in BMRC. JPMorgan Chase & Co. grew its stake in Bank of Marin Bancorp by 7.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock valued at $259,000 after acquiring an additional 486 shares during the last quarter. MetLife Investment Management LLC grew its stake in Bank of Marin Bancorp by 59.8% in the 1st quarter. MetLife Investment Management LLC now owns 8,295 shares of the bank’s stock valued at $291,000 after acquiring an additional 3,103 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bank of Marin Bancorp by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock valued at $25,344,000 after acquiring an additional 21,712 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Bank of Marin Bancorp by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 115,161 shares of the bank’s stock valued at $4,039,000 after acquiring an additional 2,750 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Bank of Marin Bancorp by 6.2% in the 1st quarter. Renaissance Technologies LLC now owns 149,492 shares of the bank’s stock valued at $5,243,000 after acquiring an additional 8,700 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Trading Down 0.3 %

Shares of BMRC traded down $0.04 during trading hours on Tuesday, reaching $15.00. The company had a trading volume of 54,362 shares, compared to its average volume of 63,415. The firm has a 50 day simple moving average of $16.60 and a 200-day simple moving average of $18.52. The company has a market capitalization of $244.50 million, a price-to-earnings ratio of 12.10 and a beta of 0.85. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The company had revenue of $20.98 million during the quarter, compared to analysts’ expectations of $27.50 million. Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were paid a $0.25 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 6.67%. Bank of Marin Bancorp’s payout ratio is 80.65%.

About Bank of Marin Bancorp

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.