First Quadrant L P CA bought a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,577 shares of the bank’s stock, valued at approximately $282,000. First Quadrant L P CA owned about 0.08% of Bank of Marin Bancorp at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Bank of Marin Bancorp by 20.3% in the first quarter. Vanguard Group Inc. now owns 213,212 shares of the bank’s stock worth $13,720,000 after buying an additional 36,024 shares in the last quarter. Renaissance Technologies LLC increased its stake in Bank of Marin Bancorp by 6.2% in the first quarter. Renaissance Technologies LLC now owns 123,800 shares of the bank’s stock worth $7,967,000 after buying an additional 7,280 shares in the last quarter. State Street Corp increased its stake in Bank of Marin Bancorp by 13.7% in the fourth quarter. State Street Corp now owns 112,543 shares of the bank’s stock worth $7,850,000 after buying an additional 13,526 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Bank of Marin Bancorp during the first quarter worth $4,623,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bank of Marin Bancorp by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 65,783 shares of the bank’s stock valued at $4,233,000 after buying an additional 3,230 shares during the period. 42.65% of the stock is owned by institutional investors and hedge funds.
Bank of Marin Bancorp (NASDAQ BMRC) opened at 64.30 on Friday. The company has a 50 day moving average price of $64.33 and a 200-day moving average price of $65.02. The company has a market capitalization of $392.87 million, a PE ratio of 17.68 and a beta of 0.90. Bank of Marin Bancorp has a one year low of $48.60 and a one year high of $75.05.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a return on equity of 9.55% and a net margin of 26.72%. The firm had revenue of $20.40 million for the quarter, compared to analysts’ expectations of $20.33 million. Analysts expect that Bank of Marin Bancorp will post $3.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, August 4th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.80%. Bank of Marin Bancorp’s payout ratio is 31.78%.
TRADEMARK VIOLATION NOTICE: “First Quadrant L P CA Invests $282,000 in Bank of Marin Bancorp (BMRC)” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/19/4577-shares-in-bank-of-marin-bancorp-bmrc-acquired-by-first-quadrant-l-p-ca-updated-updated.html.
BMRC has been the subject of several recent analyst reports. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. BidaskClub raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price objective on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies set a $68.00 price objective on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Bank of Marin Bancorp presently has an average rating of “Hold” and an average price target of $70.75.
About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
