40,253 Shares in Bank of Marin Bancorp $BMRC Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 40,253 shares of Bank of Marin Bancorp, valued at approximately $1.12 million, giving it a 0.25% stake. Institutional investors and hedge funds collectively own 52.26% of the company.
• Bank of Marin Bancorp reported quarterly earnings of $0.58 per share, beating analyst expectations of $0.52, while revenue of $33.95 million was roughly in line with estimates.
• The company maintains a quarterly dividend of $0.25, equivalent to a 3.8% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $31.50 versus the reported share price of $26.63.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,253 shares of the bank's stock, valued at approximately $1,115,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Bank of Marin Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LM Advisors LLC acquired a new stake in Bank of Marin Bancorp in the second quarter valued at $506,000. Ieq Capital LLC purchased a new position in shares of Bank of Marin Bancorp in the second quarter valued at $380,000. Heartland Advisors Inc. acquired a new position in shares of Bank of Marin Bancorp during the 2nd quarter worth $9,017,000. Allworth Financial LP acquired a new position in shares of Bank of Marin Bancorp during the 2nd quarter worth $87,000. Finally, Algebris UK Ltd. purchased a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth about $8,092,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $26.63 on Monday. Bank of Marin Bancorp has a one year low of $22.50 and a one year high of $30.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50 day moving average price of $28.12 and a 200 day moving average price of $26.60. The firm has a market capitalization of $431.14 million, a price-to-earnings ratio of -29.26 and a beta of 0.79.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The business had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.02 million. Sell-side analysts anticipate that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 3.8%. Bank of Marin Bancorp's dividend payout ratio (DPR) is presently -109.89%.

Wall Street Analyst Weigh In

BMRC has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. DA Davidson set a $34.00 target price on shares of Bank of Marin Bancorp and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. Finally, Brean Capital cut shares of Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 price objective for the company. in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.50.

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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