The Manufacturers Life Insurance Company raised its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,158 shares of the bank’s stock after buying an additional 4,688 shares during the period. The Manufacturers Life Insurance Company owned about 4.00% of Bank of Marin Bancorp worth $15,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMRC. Vanguard Group Inc. increased its stake in shares of Bank of Marin Bancorp by 5.0% during the second quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after purchasing an additional 10,713 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Bank of Marin Bancorp by 6.2% during the first quarter. Renaissance Technologies LLC now owns 123,800 shares of the bank’s stock worth $7,967,000 after purchasing an additional 7,280 shares in the last quarter. State Street Corp increased its stake in shares of Bank of Marin Bancorp by 0.4% during the second quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after purchasing an additional 396 shares in the last quarter. Northern Trust Corp increased its stake in shares of Bank of Marin Bancorp by 6.3% during the second quarter. Northern Trust Corp now owns 88,886 shares of the bank’s stock worth $5,471,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bank of Marin Bancorp by 23.7% during the second quarter. Dimensional Fund Advisors LP now owns 81,370 shares of the bank’s stock worth $5,009,000 after purchasing an additional 15,587 shares in the last quarter. 42.34% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/19/bank-of-marin-bancorp-bmrc-holdings-lifted-by-the-manufacturers-life-insurance-company.html.

BMRC has been the subject of a number of research reports. Zacks Investment Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. BidaskClub cut shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies set a $68.00 target price on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Sunday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price objective on shares of Bank of Marin Bancorp in a research note on Wednesday, June 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Bank of Marin Bancorp presently has an average rating of “Hold” and a consensus target price of $70.00.

Shares of Bank of Marin Bancorp (BMRC) opened at 68.65 on Thursday. The company’s 50-day moving average is $67.22 and its 200 day moving average is $64.68. Bank of Marin Bancorp has a 52 week low of $49.50 and a 52 week high of $75.05. The stock has a market cap of $419.45 million, a PE ratio of 18.88 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%. The firm had revenue of $20.40 million during the quarter, compared to the consensus estimate of $20.33 million. Analysts forecast that Bank of Marin Bancorp will post $3.27 earnings per share for the current fiscal year.

Bank of Marin Bancorp 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)

Receive News & Stock Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related stocks with our FREE daily email newsletter.