Elizabeth Park Capital Advisors Ltd. Reduces Position in Bank of Marin Bancorp $BMRC

Key Points

• Elizabeth Park Capital Advisors trimmed its position in Bank of Marin Bancorp by 46.6% in Q3, selling 96,343 shares and retaining 110,512 shares (about 0.69% of the company), which represented roughly 2.2% of the firm's portfolio.
• Other institutions were active: HoldCo opened a ~$9.3M stake, Fourthstone increased its holding by 291.7%, UBS added shares, and overall institutional investors now own 52.26% of BMRC.
• Analysts are mixed but slightly positive with a MarketBeat consensus of “Moderate Buy” and a target of $30.10; BMRC trades at $23.90, has a market cap of ~$384.6M, a negative P/E, and pays a 4.2% annual dividend yield.

Elizabeth Park Capital Advisors Ltd. trimmed its position in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) by 46.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,512 shares of the bank's stock after selling 96,343 shares during the period. Bank of Marin Bancorp accounts for approximately 2.2% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 21st biggest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.69% of Bank of Marin Bancorp worth $2,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HoldCo Asset Management LP acquired a new stake in Bank of Marin Bancorp during the 2nd quarter worth about $9,305,000. Fourthstone LLC raised its stake in shares of Bank of Marin Bancorp by 291.7% in the second quarter. Fourthstone LLC now owns 276,578 shares of the bank's stock worth $6,317,000 after purchasing an additional 205,969 shares during the last quarter. UBS Group AG raised its stake in shares of Bank of Marin Bancorp by 143.9% in the third quarter. UBS Group AG now owns 166,615 shares of the bank's stock worth $4,045,000 after purchasing an additional 98,311 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Bank of Marin Bancorp during the second quarter worth about $1,365,000. Finally, SummerHaven Investment Management LLC purchased a new stake in Bank of Marin Bancorp in the third quarter valued at approximately $799,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. Wall Street Zen lowered shares of Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Zacks Research cut shares of Bank of Marin Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Finally, Stephens restated an "overweight" rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Bank of Marin Bancorp has an average rating of "Moderate Buy" and a consensus target price of $30.10.

Bank of Marin Bancorp Trading Down 0.3%

Shares of BMRC stock opened at $23.90 on Friday. The stock has a 50 day moving average of $26.28 and a 200 day moving average of $25.74. The stock has a market cap of $384.55 million, a P/E ratio of -10.62 and a beta of 0.89. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings data on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The business had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. On average, 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. Bank of Marin Bancorp's dividend payout ratio is -44.44%.

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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