Bank of Marin Bancorp (NASDAQ:BMRC) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655,514 shares of the bank’s stock after purchasing an additional 38,934 shares during the period. Alliancebernstein L.P. owned about 4.08% of Bank of Marin Bancorp worth $15,582,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Zacks Investment Management purchased a new position in shares of Bank of Marin Bancorp during the third quarter valued at approximately $2,195,000. Proficio Capital Partners LLC acquired a new position in Bank of Marin Bancorp in the 4th quarter valued at $1,374,000. Prudential Financial Inc. lifted its stake in shares of Bank of Marin Bancorp by 92.7% during the 4th quarter. Prudential Financial Inc. now owns 96,757 shares of the bank’s stock worth $2,300,000 after purchasing an additional 46,536 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Bank of Marin Bancorp by 185.3% during the fourth quarter. JPMorgan Chase & Co. now owns 44,686 shares of the bank’s stock worth $1,062,000 after purchasing an additional 29,024 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at $386,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Trading Down 1.3 %

Shares of Bank of Marin Bancorp stock opened at $20.21 on Wednesday. The business’s fifty day moving average price is $23.38 and its 200 day moving average price is $23.38. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11. The stock has a market capitalization of $325.72 million, a P/E ratio of -38.86 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Thursday, February 6th. Bank of Marin Bancorp’s payout ratio is currently -192.31%.

Analysts Set New Price Targets

BMRC has been the topic of a number of research analyst reports. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Stephens reiterated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th.

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.