Bridgeway Capital Management LLC Increases Holdings in Bank of Marin Bancorp (NASDAQ:BMRC)

Bridgeway Capital Management LLC raised its position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,607 shares of the bank’s stock after purchasing an additional 1,150 shares during the period. Bridgeway Capital Management LLC owned about 0.63% of Bank of Marin Bancorp worth $2,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in BMRC. Barclays PLC lifted its stake in Bank of Marin Bancorp by 46.1% in the third quarter. Barclays PLC now owns 45,370 shares of the bank’s stock worth $911,000 after acquiring an additional 14,306 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Bank of Marin Bancorp by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock valued at $315,000 after purchasing an additional 2,469 shares in the last quarter. Ballentine Partners LLC purchased a new position in Bank of Marin Bancorp during the fourth quarter valued at approximately $214,000. SG Americas Securities LLC raised 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 buying an additional 430 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Bank of Marin Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 23,794 shares of the bank’s stock valued at $566,000 after acquiring an additional 1,150 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMRC has been the subject of several recent research reports. Stephens reissued an “overweight” rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. StockNews.com raised 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 Price Performance

Bank of Marin Bancorp stock opened at $20.95 on Friday. The business has a fifty day moving average price of $21.41 and a 200-day moving average price of $23.34. Bank of Marin Bancorp has a 1-year low of $14.44 and a 1-year high of $27.11. The stock has a market capitalization of $339.45 million, a price-to-earnings ratio of -40.29 and a beta of 0.84.

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

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.77%. Bank of Marin Bancorp’s dividend payout ratio is currently -250.00%.

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.