Basswood Capital Management L.L.C. Decreases Stock Position in Bank of Marin Bancorp (NASDAQ:BMRC)

Basswood Capital Management L.L.C. trimmed its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,755 shares of the bank’s stock after selling 4,048 shares during the quarter. Basswood Capital Management L.L.C. owned 1.03% of Bank of Marin Bancorp worth $3,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of BMRC. Tower Research Capital LLC TRC boosted its stake in shares of Bank of Marin Bancorp by 157.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank’s stock worth $26,000 after purchasing an additional 663 shares during the period. SG Americas Securities LLC lifted its stake in Bank of Marin Bancorp by 7.1% in the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after purchasing an additional 430 shares during the last quarter. Wulff Hansen & CO. purchased a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at approximately $200,000. Raymond James Financial Inc. bought a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at approximately $200,000. Finally, Angel Oak Capital Advisors LLC purchased a new stake in shares of Bank of Marin Bancorp in the fourth quarter worth approximately $214,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Trading Up 3.0 %

BMRC opened at $21.36 on Friday. The company has a market capitalization of $346.10 million, a price-to-earnings ratio of -41.08 and a beta of 0.84. Bank of Marin Bancorp has a 12-month low of $14.44 and a 12-month high of $27.11. The business’s fifty day simple moving average is $21.72 and its 200-day simple moving average is $23.38.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. The business had revenue of $35.24 million for the quarter, compared to analysts’ expectations of $27.99 million. On average, equities research analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.00 annualized dividend and a yield of 4.68%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMRC. StockNews.com upgraded 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 $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, April 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.