1,600,224 Shares in Bank of Marin Bancorp $BMRC Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 1.6 million shares of Bank of Marin Bancorp in the second quarter, valued at approximately $44.3 million and representing a 9.88% stake. Institutional investors and hedge funds collectively own 52.26% of the company.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and a $31.50 price target. Keefe, Bruyette & Woods upgraded the stock to “Outperform” with a $32 target, while other firms issued Hold ratings.
• Bank of Marin Bancorp exceeded quarterly earnings expectations, reporting $0.58 EPS versus $0.52 expected, and pays a quarterly dividend of $0.25 per share, equivalent to a 3.8% annualized yield.

BlackRock Inc. purchased a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,600,224 shares of the bank's stock, valued at approximately $44,326,000. BlackRock Inc. owned approximately 9.88% of Bank of Marin Bancorp at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank's stock valued at $31,000 after purchasing an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after buying an additional 379 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank's stock worth $43,000 after buying an additional 1,040 shares in the last quarter. BNP Paribas Financial Markets grew its position in Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank's stock valued at $70,000 after buying an additional 1,356 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Bank of Marin Bancorp during the second quarter valued at $70,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BMRC shares. Wall Street Zen raised shares of Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research note on Saturday, May 16th. Zacks Research upgraded Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods upped their price target on Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Stephens set a $30.00 price target on Bank of Marin Bancorp and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.50.

Bank of Marin Bancorp Trading Down 0.2%

BMRC stock opened at $26.58 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12-month low of $22.50 and a 12-month high of $30.92. The stock has a market cap of $430.33 million, a price-to-earnings ratio of -29.21 and a beta of 0.79. The business's 50-day moving average is $28.14 and its 200 day moving average is $26.59.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. The business had revenue of $33.95 million during the quarter, compared to analysts' expectations of $34.02 million. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 2.31 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Bank of Marin Bancorp's dividend payout ratio is presently -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.

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