California Public Employees Retirement System decreased its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 26.4% during the first quarter, Holdings Channel reports. The institutional investor owned 17,000 shares of the bank’s stock after selling 6,100 shares during the period. California Public Employees Retirement System’s holdings in Bank of Marin Bancorp were worth $1,094,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in Bank of Marin Bancorp during the first quarter worth $4,623,000. Cornerstone Capital Management Holdings LLC. increased its position in Bank of Marin Bancorp by 42.3% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,273 shares of the bank’s stock worth $210,000 after buying an additional 973 shares during the last quarter. American International Group Inc. increased its position in Bank of Marin Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock worth $236,000 after buying an additional 240 shares during the last quarter. Prudential Financial Inc. increased its position in Bank of Marin Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 46,272 shares of the bank’s stock worth $2,978,000 after buying an additional 140 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in Bank of Marin Bancorp by 13.3% in the first quarter. Martingale Asset Management L P now owns 18,780 shares of the bank’s stock worth $1,209,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 42.07% of the company’s stock.

Bank of Marin Bancorp (NASDAQ BMRC) traded up 1.4019% during trading on Friday, reaching $65.3535. 12,757 shares of the company were exchanged. The company’s 50-day moving average price is $63.80 and its 200-day moving average price is $65.23. The stock has a market capitalization of $399.31 million, a P/E ratio of 17.9691 and a beta of 0.90. Bank of Marin Bancorp has a 1-year low of $48.50 and a 1-year high of $75.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, July 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%. The company had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $20.33 million. On average, equities analysts forecast that Bank of Marin Bancorp will post $3.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, August 4th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, August 2nd. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.27. Bank of Marin Bancorp’s dividend payout ratio is presently 31.78%.

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A number of equities analysts recently issued reports on BMRC shares. ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. BidaskClub raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Piper Jaffray Companies set a $68.00 price target on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Sunday, July 30th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 price target on shares of Bank of Marin Bancorp in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, four have issued 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 target price 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.

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Institutional Ownership by Quarter for Bank of Marin Bancorp (NASDAQ:BMRC)

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