Assenagon Asset Management S.A. acquired a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,511 shares of the bank’s stock, valued at approximately $1,553,000. Assenagon Asset Management S.A. owned about 0.26% of Bank of Marin Bancorp as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth $186,000. Voya Investment Management LLC purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth $222,000. Polaris Greystone Financial Group LLC purchased a new position in Bank of Marin Bancorp during the 3rd quarter worth $227,000. Brouwer & Janachowski LLC purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth $335,000. Finally, Swiss National Bank purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth $889,000. 44.74% of the stock is currently owned by institutional investors.
BMRC stock opened at $83.80 on Friday. Bank of Marin Bancorp has a one year low of $63.50 and a one year high of $90.85. The firm has a market capitalization of $603.53 million, a PE ratio of 25.55, a PEG ratio of 2.75 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.02.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 22nd. The bank reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.40%. The company had revenue of $25.78 million during the quarter, compared to analysts’ expectations of $25.33 million. As a group, research analysts expect that Bank of Marin Bancorp will post 4.49 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Thursday, November 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, October 31st. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 42.68%.
In other news, insider Peter Pelham sold 1,672 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the sale, the insider now owns 9,556 shares in the company, valued at approximately $845,132.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.17% of the stock is currently owned by company insiders.
BMRC has been the topic of several research reports. BidaskClub raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research cut shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine cut shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Piper Jaffray Companies set a $86.00 target price on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.40.
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Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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