Bank of Marin Bancorp (NASDAQ:BMRC) insider Min Situ sold 178 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $65.40, for a total transaction of $11,641.20. Following the sale, the insider now owns 516 shares of the company’s stock, valued at $33,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) opened at 67.25 on Friday. The company has a 50 day moving average of $54.36 and a 200 day moving average of $50.78. The stock has a market cap of $409.08 million, a P/E ratio of 18.32 and a beta of 0.68. Bank of Marin Bancorp has a 12 month low of $45.65 and a 12 month high of $67.25.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.35. Bank of Marin Bancorp had a net margin of 26.76% and a return on equity of 10.01%. Equities research analysts expect that Bank of Marin Bancorp will post $3.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were given a dividend of $0.27 per share. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.61%. Bank of Marin Bancorp’s payout ratio is currently 29.43%.

Separately, Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, September 26th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. boosted its position in shares of Bank of Marin Bancorp by 7.8% in the third quarter. D.A. Davidson & CO. now owns 3,239 shares of the company’s stock worth $161,000 after buying an additional 233 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Bank of Marin Bancorp by 3.9% in the third quarter. Panagora Asset Management Inc. now owns 49,940 shares of the company’s stock worth $2,484,000 after buying an additional 1,893 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Bank of Marin Bancorp during the third quarter worth approximately $10,583,000. Anchor Capital Advisors LLC raised its stake in shares of Bank of Marin Bancorp by 1.8% in the third quarter. Anchor Capital Advisors LLC now owns 21,604 shares of the company’s stock worth $1,074,000 after buying an additional 386 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Bank of Marin Bancorp by 14.1% in the third quarter. Morgan Stanley now owns 19,725 shares of the company’s stock worth $981,000 after buying an additional 2,442 shares in the last quarter. Hedge funds and other institutional investors own 39.22% of the company’s stock.

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About Bank of Marin Bancorp

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s customer base is made up of business and personal banking relationships from the communities near the branch office locations. Its business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations.

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