XTX Topco Ltd Purchases Shares of 17,763 Bank of Marin Bancorp (NASDAQ:BMRC)

Key Points

• XTX Topco Ltd acquired 17,763 shares of Bank of Marin Bancorp during the 1st quarter, valued at approximately $392,000, representing around 0.11% ownership in the company.
• Analysts have expressed a positive outlook on Bank of Marin Bancorp, with a consensus rating of "Moderate Buy" and a price target averaging $26.25.
• The bank's quarterly earnings report revealed an EPS of $0.29, missing estimates, while also announcing a $25 million share repurchase program and a $0.25 dividend payment.

XTX Topco Ltd acquired a new stake in Bank of Marin Bancorp (NASDAQ:BMRC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,763 shares of the bank's stock, valued at approximately $392,000. XTX Topco Ltd owned approximately 0.11% of Bank of Marin Bancorp as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in BMRC. Vanguard Group Inc. increased its holdings in shares of Bank of Marin Bancorp by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 826,177 shares of the bank's stock worth $19,638,000 after purchasing an additional 9,770 shares in the last quarter. North Reef Capital Management LP lifted its holdings in shares of Bank of Marin Bancorp by 45.8% during the 4th quarter. North Reef Capital Management LP now owns 470,956 shares of the bank's stock valued at $11,195,000 after buying an additional 148,020 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Bank of Marin Bancorp by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 467,373 shares of the bank's stock valued at $11,109,000 after buying an additional 4,101 shares during the period. Kennedy Capital Management LLC grew its position in shares of Bank of Marin Bancorp by 30.9% during the 4th quarter. Kennedy Capital Management LLC now owns 152,267 shares of the bank's stock valued at $3,619,000 after acquiring an additional 35,958 shares during the period. Finally, Northern Trust Corp grew its position in shares of Bank of Marin Bancorp by 3.7% during the 4th quarter. Northern Trust Corp now owns 141,272 shares of the bank's stock valued at $3,358,000 after acquiring an additional 5,002 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.

Analyst Ratings Changes

BMRC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. DA Davidson upped their target price on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Stephens reaffirmed an "overweight" rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Finally, Piper Sandler upped their target price on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $26.25.

Bank of Marin Bancorp Price Performance

BMRC stock traded up $0.24 during mid-day trading on Wednesday, reaching $23.24. 18,447 shares of the company's stock were exchanged, compared to its average volume of 86,767. The company has a market cap of $374.66 million, a price-to-earnings ratio of 54.03 and a beta of 0.89. The stock's 50 day moving average is $23.37 and its 200 day moving average is $22.71. Bank of Marin Bancorp has a 12-month low of $18.05 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07). The company had revenue of $10.29 million for the quarter, compared to analyst estimates of $29.07 million. Bank of Marin Bancorp had a return on equity of 4.60% and a net margin of 4.43%. On average, research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp announced that its Board of Directors has initiated a share repurchase program on Monday, July 28th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders 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 4.3%. The ex-dividend date of this dividend is Thursday, August 7th. Bank of Marin Bancorp's payout ratio is 232.56%.

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.