BlackRock Inc. increased its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 104.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144,009 shares of the bank’s stock after purchasing an additional 584,103 shares during the period. BlackRock Inc. owned approximately 8.20% of Bank of Marin Bancorp worth $47,178,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of Bank of Marin Bancorp by 133.9% in the 4th quarter. Acadian Asset Management LLC now owns 27,351 shares of the bank’s stock valued at $1,128,000 after acquiring an additional 15,656 shares in the last quarter. Vanguard Group Inc boosted its position in Bank of Marin Bancorp by 1.1% during the third quarter. Vanguard Group Inc now owns 335,756 shares of the bank’s stock worth $28,170,000 after purchasing an additional 3,751 shares during the period. Polaris Greystone Financial Group LLC boosted its position in Bank of Marin Bancorp by 100.0% during the fourth quarter. Polaris Greystone Financial Group LLC now owns 5,400 shares of the bank’s stock worth $223,000 after purchasing an additional 2,700 shares during the period. Confluence Investment Management LLC grew its holdings in Bank of Marin Bancorp by 66.2% during the fourth quarter. Confluence Investment Management LLC now owns 121,815 shares of the bank’s stock valued at $5,023,000 after purchasing an additional 48,531 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Bank of Marin Bancorp by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 38,868 shares of the bank’s stock valued at $3,261,000 after purchasing an additional 782 shares during the last quarter. 43.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, February 4th. Finally, ValuEngine upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.50.
Shares of NASDAQ:BMRC opened at $42.41 on Friday. The stock has a market capitalization of $581.80 million, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59. Bank of Marin Bancorp has a 52-week low of $34.50 and a 52-week high of $45.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.84 and a current ratio of 0.84.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 28th. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Bank of Marin Bancorp had a return on equity of 10.63% and a net margin of 31.00%. The business had revenue of $26.70 million for the quarter, compared to analyst estimates of $25.57 million. On average, sell-side analysts predict that Bank of Marin Bancorp will post 2.57 earnings per share for the current year.
In other news, CEO Russell A. Colombo sold 5,117 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $42.00, for a total transaction of $214,914.00. Following the completion of the transaction, the chief executive officer now directly owns 66,186 shares in the company, valued at $2,779,812. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Pelham sold 8,000 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $41.91, for a total value of $335,280.00. Following the completion of the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at $800,900.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,117 shares of company stock valued at $591,654. 5.17% of the stock is owned by corporate insiders.
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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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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