Bank of Marin Bancorp (NASDAQ:BMRC) Sees Significant Decline in Short Interest

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 572,200 shares, a drop of 10.0% from the November 15th total of 635,500 shares. Based on an average daily volume of 68,300 shares, the days-to-cover ratio is currently 8.4 days.

Bank of Marin Bancorp Stock Down 0.1 %

Shares of NASDAQ BMRC traded down $0.03 during midday trading on Friday, hitting $24.75. The stock had a trading volume of 27,931 shares, compared to its average volume of 74,628. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The company has a market capitalization of $397.98 million, a price-to-earnings ratio of -28.78 and a beta of 0.93. The company has a fifty day moving average price of $23.91 and a 200 day moving average price of $20.42.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. During the same quarter last year, the firm posted $0.33 earnings per share. On average, research analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently modified their holdings of BMRC. Choreo LLC purchased a new position in Bank of Marin Bancorp in the 2nd quarter worth approximately $426,000. AQR Capital Management LLC purchased a new position in shares of Bank of Marin Bancorp in the second quarter valued at $709,000. Acadian Asset Management LLC boosted its stake in shares of Bank of Marin Bancorp by 104.4% in the second quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 50,874 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Bank of Marin Bancorp during the 2nd quarter worth $396,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Bank of Marin Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after buying an additional 33,280 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price target on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.