Bank of Marin Bancorp (NASDAQ:BMRC) Sees Large Decrease in Short Interest

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 596,600 shares, a drop of 12.3% from the October 15th total of 680,500 shares. Based on an average trading volume of 79,300 shares, the days-to-cover ratio is presently 7.5 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMRC. DA Davidson raised 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 research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 11th.

Hedge Funds Weigh In On Bank of Marin Bancorp

Large investors have recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. Riverview Trust Co increased its stake in Bank of Marin Bancorp by 105.5% in the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after buying an additional 1,001 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth about $74,000. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth about $122,000. Finally, XTX Topco Ltd bought a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $168,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Down 1.3 %

Shares of BMRC stock traded down $0.35 during trading hours on Friday, hitting $26.22. 49,665 shares of the company were exchanged, compared to its average volume of 77,085. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $26.94. The business has a 50 day moving average of $21.81 and a two-hundred day moving average of $19.00. The company has a market capitalization of $421.62 million, a PE ratio of -30.49 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the prior year, the company earned $0.33 EPS. On average, research analysts forecast that Bank of Marin Bancorp will post 0.88 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

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.