Bank of Marin Bancorp (BMRC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,179 shares of the bank’s stock after selling 25 shares during the period. Wells Fargo & Company MN owned about 0.27% of Bank of Marin Bancorp worth $1,042,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in shares of Bank of Marin Bancorp by 24.6% in the first quarter. Russell Investments Group Ltd. now owns 10,740 shares of the bank’s stock valued at $691,000 after buying an additional 2,120 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Bank of Marin Bancorp during the first quarter valued at $117,000. Confluence Investment Management LLC increased its stake in shares of Bank of Marin Bancorp by 4.7% in the first quarter. Confluence Investment Management LLC now owns 50,932 shares of the bank’s stock valued at $3,278,000 after buying an additional 2,301 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Bank of Marin Bancorp by 1.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,439 shares of the bank’s stock valued at $170,000 after buying an additional 31 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Bank of Marin Bancorp by 9.5% in the fourth quarter. Renaissance Technologies LLC now owns 116,520 shares of the bank’s stock worth $8,127,000 after buying an additional 10,120 shares in the last quarter. 41.89% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp (NASDAQ:BMRC) traded down 0.90% during midday trading on Friday, reaching $65.95. 18,064 shares of the company were exchanged. Bank of Marin Bancorp has a 52-week low of $48.50 and a 52-week high of $75.05. The stock has a market capitalization of $402.95 million, a price-to-earnings ratio of 18.13 and a beta of 0.88. The firm’s 50-day moving average price is $63.39 and its 200 day moving average price is $65.34.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $20.40 million during the quarter, compared to analyst estimates of $20.33 million. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.63%. Equities analysts predict that Bank of Marin Bancorp will post $3.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, August 4th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from Bank of Marin Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, August 2nd. Bank of Marin Bancorp’s dividend payout ratio is 29.59%.

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A number of analysts recently commented on BMRC shares. Piper Jaffray Companies decreased their price objective on shares of Bank of Marin Bancorp from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $68.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Finally, BidaskClub raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.00.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

Institutional Ownership by Quarter for Bank of Marin Bancorp (NASDAQ:BMRC)

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