State Street Corp Acquires 3,073 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

State Street Corp grew its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 363,110 shares of the bank’s stock after acquiring an additional 3,073 shares during the quarter. State Street Corp’s holdings in Bank of Marin Bancorp were worth $7,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Bank of Marin Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after buying an additional 656 shares during the period. Empowered Funds LLC lifted its position in shares of Bank of Marin Bancorp by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after acquiring an additional 1,072 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after purchasing an additional 2,131 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Bank of Marin Bancorp by 23.3% during the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock worth $231,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Bank of Marin Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 121,986 shares of the bank’s stock worth $2,451,000 after purchasing an additional 2,842 shares during the period. 52.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMRC. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens raised shares of Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th. Finally, StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th.

Bank of Marin Bancorp Stock Down 1.5 %

Bank of Marin Bancorp stock opened at $23.52 on Friday. The stock has a market cap of $378.27 million, a PE ratio of -27.35 and a beta of 0.93. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The business’s 50-day moving average price is $24.40 and its two-hundred day moving average price is $20.96.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts expect that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.25%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Bank of Marin Bancorp 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.