HoldCo Asset Management LP Buys 97,000 Shares of Bank of Marin Bancorp $BMRC

HoldCo Asset Management LP boosted its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 23.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 504,411 shares of the bank’s stock after purchasing an additional 97,000 shares during the quarter. Bank of Marin Bancorp comprises approximately 1.3% of HoldCo Asset Management LP’s holdings, making the stock its 12th largest holding. HoldCo Asset Management LP owned 3.13% of Bank of Marin Bancorp worth $12,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BMRC. Wellington Management Group LLP grew its holdings in Bank of Marin Bancorp by 268.7% during the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after buying an additional 687,615 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Bank of Marin Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock worth $20,362,000 after acquiring an additional 5,690 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bank of Marin Bancorp by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 787,584 shares of the bank’s stock worth $19,123,000 after acquiring an additional 14,089 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Bank of Marin Bancorp by 2.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 378,065 shares of the bank’s stock valued at $9,179,000 after acquiring an additional 8,022 shares during the last quarter. Finally, Fourthstone LLC grew its holdings in shares of Bank of Marin Bancorp by 291.7% in the second quarter. Fourthstone LLC now owns 276,578 shares of the bank’s stock valued at $6,317,000 after purchasing an additional 205,969 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $23.90 on Monday. The firm has a market capitalization of $384.55 million, a PE ratio of -10.62 and a beta of 0.89. The stock’s fifty day moving average is $26.28 and its 200 day moving average is $25.75. Bank of Marin Bancorp has a fifty-two week low of $19.14 and a fifty-two week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Friday, March 13th. The bank reported $0.59 EPS for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. The company had revenue of ($39.66) million during the quarter. Equities analysts forecast that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. Bank of Marin Bancorp’s payout ratio is currently -44.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. Wall Street Zen cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Stephens restated an “overweight” rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Finally, Zacks Research downgraded shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and an average price target of $30.10.

Bank of Marin Bancorp Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.