HoldCo Asset Management LP Purchases 97,000 Shares of Bank of Marin Bancorp $BMRC

HoldCo Asset Management LP raised its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC) by 23.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 504,411 shares of the bank’s stock after purchasing an additional 97,000 shares during the quarter. Bank of Marin Bancorp accounts for about 1.3% of HoldCo Asset Management LP’s portfolio, making the stock its 12th largest position. HoldCo Asset Management LP’s holdings in Bank of Marin Bancorp were worth $12,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BMRC. First Trust Advisors LP raised its holdings in shares of Bank of Marin Bancorp by 7.1% in the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after buying an additional 696 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after acquiring an additional 1,040 shares during the period. Russell Investments Group Ltd. grew its position in Bank of Marin Bancorp by 2,543.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,221 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after purchasing an additional 1,356 shares during the period. Finally, MAI Capital Management increased its stake in Bank of Marin Bancorp by 23.9% in the third quarter. MAI Capital Management now owns 7,440 shares of the bank’s stock worth $181,000 after purchasing an additional 1,435 shares during the period. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BMRC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Zacks Research lowered shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Piper Sandler reissued a “neutral” rating and issued a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.10.

Bank of Marin Bancorp Trading Down 0.3%

Shares of BMRC stock opened at $23.90 on Monday. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48. The stock has a fifty day simple moving average of $26.28 and a two-hundred day simple moving average of $25.75. The stock has a market capitalization of $384.55 million, a price-to-earnings ratio of -10.62 and a beta of 0.89.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The firm had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. Research analysts predict that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -44.44%.

Bank of Marin Bancorp Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.