Legato Capital Management LLC Buys New Shares in Bank of Marin Bancorp (NASDAQ:BMRC)

Legato Capital Management LLC acquired a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,475 shares of the bank's stock, valued at approximately $871,000. Legato Capital Management LLC owned approximately 0.24% of Bank of Marin Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRC. Tower Research Capital LLC TRC raised its position in 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 valued at $26,000 after acquiring an additional 663 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Bank of Marin Bancorp by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank's stock valued at $44,000 after purchasing an additional 1,000 shares during the period. CWM LLC raised its position in shares of Bank of Marin Bancorp by 29.7% in the first quarter. CWM LLC now owns 2,753 shares of the bank's stock valued at $61,000 after purchasing an additional 630 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bank of Marin Bancorp in the fourth quarter valued at approximately $200,000. Finally, Blair William & Co. IL bought a new position in shares of Bank of Marin Bancorp in the fourth quarter valued at approximately $219,000. Institutional investors own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

BMRC has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Stephens reissued an "overweight" rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Bank of Marin Bancorp has an average rating of "Moderate Buy" and an average target price of $25.50.

Bank of Marin Bancorp Trading Down 2.3%

NASDAQ:BMRC traded down $0.56 during trading hours on Monday, hitting $23.23. 27,295 shares of the company traded hands, compared to its average volume of 83,716. The stock has a market capitalization of $376.62 million, a price-to-earnings ratio of -58.06 and a beta of 0.86. Bank of Marin Bancorp has a twelve month low of $16.97 and a twelve month high of $27.11. The firm has a 50-day moving average of $23.01 and a 200 day moving average of $22.77.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $35.24 million for the quarter, compared to analyst estimates of $27.99 million. Bank of Marin Bancorp had a negative net margin of 4.20% and a positive return on equity of 3.77%. Equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.31%. Bank of Marin Bancorp's payout ratio is currently -250.00%.

Bank of Marin Bancorp Company Profile

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.