Charles Schwab Investment Management Inc. Has $2.87 Million Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Charles Schwab Investment Management Inc. reduced its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 120,767 shares of the bank’s stock after selling 1,219 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bank of Marin Bancorp were worth $2,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Bank of Marin Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock valued at $7,282,000 after buying an additional 6,555 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bank of Marin Bancorp in the 4th quarter worth approximately $1,374,000. JPMorgan Chase & Co. grew its position in Bank of Marin Bancorp by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after acquiring an additional 2,469 shares during the last quarter. Rhumbline Advisers increased its holdings in Bank of Marin Bancorp by 6.9% during the 4th quarter. Rhumbline Advisers now owns 25,183 shares of the bank’s stock valued at $599,000 after purchasing an additional 1,621 shares in the last quarter. Finally, State Street Corp raised its position in Bank of Marin Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after purchasing an additional 3,073 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Stock Up 0.0 %

Shares of BMRC opened at $22.46 on Friday. The stock’s fifty day simple moving average is $23.93 and its 200-day simple moving average is $23.33. The firm has a market capitalization of $361.99 million, a PE ratio of -43.19 and a beta of 0.91. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter in the prior year, the firm posted $0.04 EPS. Analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.45%. Bank of Marin Bancorp’s payout ratio is presently -192.31%.

Analysts Set New Price Targets

Several brokerages have recently commented on BMRC. Keefe, Bruyette & Woods increased their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

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.