Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Up 9.5% in December

Bank of Marin Bancorp (NASDAQ:BMRC) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 626,700 shares, a growth of 9.5% from the November 30th total of 572,200 shares. Based on an average trading volume of 65,300 shares, the short-interest ratio is currently 9.6 days.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $23.44 on Tuesday. The company has a market cap of $376.99 million, a price-to-earnings ratio of -27.26 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 stock’s 50-day moving average is $24.44 and its 200-day moving average is $21.10.

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

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. acquired a new stake in Bank of Marin Bancorp in the third quarter valued at approximately $3,411,000. Zacks Investment Management acquired a new stake in Bank of Marin Bancorp during the 3rd quarter valued at $2,195,000. Acadian Asset Management LLC increased its stake in Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after buying an additional 50,874 shares during the period. AQR Capital Management LLC purchased a new stake in Bank of Marin Bancorp during the 2nd quarter worth $709,000. Finally, Renaissance Technologies LLC lifted its holdings in Bank of Marin Bancorp by 29.5% in the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock worth $2,432,000 after buying an additional 34,200 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens raised Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their target price 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. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, October 10th. Finally, StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th.

Bank of Marin Bancorp Company 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.