Choreo LLC Invests $426,000 in Bank of Marin Bancorp (NASDAQ:BMRC)

Choreo LLC acquired a new position in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 26,059 shares of the bank’s stock, valued at approximately $426,000.

Several other institutional investors have also modified their holdings of BMRC. ProShare Advisors LLC raised its position in Bank of Marin Bancorp by 21.4% in the 1st quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock valued at $7,546,000 after purchasing an additional 79,291 shares during the last quarter. Acadian Asset Management LLC grew its stake in Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after acquiring an additional 50,874 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. grew its stake in Bank of Marin Bancorp by 6.9% in the 1st quarter. Rosenthal Henry Capital Advisors Inc. now owns 46,500 shares of the bank’s stock valued at $729,000 after acquiring an additional 3,000 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Bank of Marin Bancorp by 60.3% during the 1st quarter. BNP Paribas Financial Markets now owns 27,418 shares of the bank’s stock worth $460,000 after purchasing an additional 10,316 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Bank of Marin Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after purchasing an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 0.5 %

Shares of NASDAQ:BMRC opened at $20.43 on Tuesday. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $23.24. The company has a market capitalization of $332.60 million, a price-to-earnings ratio of 24.61 and a beta of 0.92. The company has a 50 day moving average of $19.90 and a two-hundred day moving average of $17.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Bank of Marin Bancorp had a positive return on equity of 3.25% and a negative net margin of 9.09%. The company had revenue of $37.12 million for the quarter, compared to analyst estimates of $25.85 million. During the same period in the previous year, the business posted $0.28 EPS. On average, equities analysts anticipate that Bank of Marin Bancorp will post 0.47 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio is presently 120.48%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMRC. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stephens restated an “equal weight” rating and issued a $16.00 price target on shares of Bank of Marin Bancorp in a report on Thursday, June 27th.

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.