Basswood Capital Management L.L.C. Invests $3.41 Million in Bank of Marin Bancorp (NASDAQ:BMRC)

Basswood Capital Management L.L.C. bought a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 169,803 shares of the bank’s stock, valued at approximately $3,411,000.

Other institutional investors have also bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after acquiring an additional 656 shares during the period. Riverview Trust Co boosted its position in Bank of Marin Bancorp by 105.5% in the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after buying an additional 1,001 shares in the last quarter. Empowered Funds LLC grew its stake in Bank of Marin Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock worth $455,000 after buying an additional 1,072 shares during the last quarter. CWM LLC increased its holdings in shares of Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock worth $31,000 after buying an additional 1,096 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Bank of Marin Bancorp by 21.1% in the second quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after acquiring an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Ratings Changes

BMRC has been the topic of a number of research analyst reports. DA Davidson upgraded 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 report on Thursday, October 10th. StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 11th.

Bank of Marin Bancorp Trading Down 1.2 %

Shares of BMRC stock opened at $25.28 on Monday. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The firm’s 50 day moving average is $22.87 and its 200-day moving average is $19.77. The firm has a market capitalization of $406.50 million, a price-to-earnings ratio of -29.40 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter in the prior year, the business earned $0.33 EPS. On average, equities research analysts forecast that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio is -116.28%.

Bank of Marin Bancorp 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.