Ameriprise Financial Inc. Reduces Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Ameriprise Financial Inc. cut its holdings in shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,084 shares of the bank's stock after selling 25,032 shares during the period. Ameriprise Financial Inc. owned approximately 1.84% of Bank of Marin Bancorp worth $7,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Bank of Marin Bancorp by 157.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock worth $26,000 after acquiring an additional 663 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Bank of Marin Bancorp by 7.1% during the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank's stock worth $155,000 after acquiring an additional 430 shares in the last quarter. Wulff Hansen & CO. bought a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth about $200,000. Raymond James Financial Inc. bought a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth about $200,000. Finally, Angel Oak Capital Advisors LLC bought a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth about $214,000. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Stock Down 0.8%

BMRC stock traded down $0.18 during trading on Wednesday, reaching $21.02. The stock had a trading volume of 7,569 shares, compared to its average volume of 76,867. Bank of Marin Bancorp has a one year low of $14.44 and a one year high of $27.11. The company's 50 day moving average is $21.05 and its two-hundred day moving average is $23.20. The company has a market capitalization of $340.86 million, a price-to-earnings ratio of -40.46 and a beta of 0.84.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). The company had revenue of $35.24 million during the quarter, compared to analysts' expectations of $27.99 million. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. As a group, research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Thursday, May 8th. Bank of Marin Bancorp's payout ratio is -250.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stephens reissued an "overweight" rating and set a $26.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st.

About Bank of Marin Bancorp

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.