Heartland Advisors Inc. Takes Position in Bank of Marin Bancorp $BMRC

Heartland Advisors Inc. bought a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 325,508 shares of the bank’s stock, valued at approximately $9,017,000.

A number of other hedge funds have also recently bought and sold shares of BMRC. Allworth Financial LP acquired a new position in Bank of Marin Bancorp during the second quarter worth about $87,000. Algebris UK Ltd. acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $8,092,000. Paladin Partners LLC acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $53,000. BlackRock Inc. bought a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $44,326,000. Finally, Deutsche Bank AG bought a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $405,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Trading Down 0.1%

Shares of NASDAQ BMRC opened at $26.91 on Friday. The company has a quick ratio of 0.72, a current 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. The company has a market cap of $435.67 million, a price-to-earnings ratio of -29.57 and a beta of 0.79. The business has a fifty day simple moving average of $28.02 and a 200-day simple moving average of $26.62.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $33.95 million for the quarter, compared to analysts’ expectations 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%. Sell-side analysts predict that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -109.89%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. 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 increased their target price on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.50.

Bank of Marin Bancorp Company 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.