Renaissance Technologies LLC Has $3.06 Million Holdings in Bank of Marin Bancorp $BMRC

Renaissance Technologies LLC boosted its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 25.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,392 shares of the bank’s stock after purchasing an additional 24,100 shares during the quarter. Renaissance Technologies LLC owned 0.74% of Bank of Marin Bancorp worth $3,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BMRC. Sei Investments Co. grew its position in shares of Bank of Marin Bancorp by 142.0% during the 1st quarter. Sei Investments Co. now owns 22,011 shares of the bank’s stock worth $564,000 after purchasing an additional 12,914 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bank of Marin Bancorp by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock valued at $20,577,000 after buying an additional 32,048 shares in the last quarter. Heartland Advisors Inc. boosted its stake in shares of Bank of Marin Bancorp by 25.3% in the first quarter. Heartland Advisors Inc. now owns 250,000 shares of the bank’s stock valued at $6,408,000 after buying an additional 50,430 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Bank of Marin Bancorp by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 77,699 shares of the bank’s stock valued at $1,991,000 after buying an additional 5,154 shares during the period. Finally, Lodestar Private Asset Management LLC grew its position in Bank of Marin Bancorp by 10.0% during the first quarter. Lodestar Private Asset Management LLC now owns 10,156 shares of the bank’s stock worth $260,000 after buying an additional 925 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 price objective (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday, July 31st. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Bank of Marin Bancorp Stock Down 1.3%

NASDAQ BMRC opened at $28.37 on Friday. The business has a fifty day moving average price of $27.61 and a two-hundred day moving average price of $26.54. The stock has a market capitalization of $459.31 million, a PE ratio of -31.18 and a beta of 0.79. Bank of Marin Bancorp has a fifty-two week low of $21.77 and a fifty-two week high of $30.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.44% and a negative net margin of 7.98%.The company had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.02 million. Equities analysts expect that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is currently -109.89%.

Bank of Marin Bancorp Company 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.