Algebris UK Ltd. Acquires New Holdings in Bank of Marin Bancorp $BMRC

Key Points

• Algebris UK Ltd. acquired 293,040 shares of Bank of Marin Bancorp during the second quarter, worth approximately $8.1 million and representing about 1.81% of the company. Institutional investors collectively own 52.26% of BMRC.
• BMRC shares were trading down 3.2% at $27.13, while the bank reported quarterly EPS of $0.58, beating estimates of $0.52. Analysts expect full-year EPS of $2.31.
• Bank of Marin Bancorp paid a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 dividend and a 3.7% yield. Analysts maintain a consensus “Hold” rating with a $31.50 target price.

Algebris UK Ltd. bought a new stake in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 293,040 shares of the bank's stock, valued at approximately $8,092,000. Algebris UK Ltd. owned about 1.81% of Bank of Marin Bancorp as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRC. Paladin Partners LLC acquired a new position in Bank of Marin Bancorp in the 2nd quarter valued at about $53,000. Torren Management LLC bought a new stake in Bank of Marin Bancorp during the fourth quarter worth about $31,000. Russell Investments Group Ltd. boosted its position 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 worth $31,000 after acquiring an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock valued at $39,000 after purchasing an additional 379 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Bank of Marin Bancorp Trading Down 3.2%

Shares of BMRC opened at $27.13 on Thursday. The firm has a market capitalization of $439.23 million, a price-to-earnings ratio of -29.81 and a beta of 0.79. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $27.99 and its 200-day moving average price is $26.62. Bank of Marin Bancorp has a 1-year low of $22.50 and a 1-year high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $33.95 million during 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp's payout ratio is presently -109.89%.

Analyst Ratings Changes

Several research analysts have commented on BMRC shares. Brean Capital downgraded Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 target price on the stock. in a report on Tuesday, July 28th. Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Zacks Research upgraded Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen raised Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of Marin Bancorp has an average rating of "Hold" and a consensus target price of $31.50.

About Bank of Marin Bancorp

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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