Acadian Asset Management LLC Purchases 50,874 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

Acadian Asset Management LLC raised its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 104.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,622 shares of the bank’s stock after purchasing an additional 50,874 shares during the quarter. Acadian Asset Management LLC owned 0.61% of Bank of Marin Bancorp worth $1,611,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. Riverview Trust Co raised its position in shares of Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after acquiring an additional 1,001 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bank of Marin Bancorp by 348.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after acquiring an additional 1,832 shares during the last quarter. Bridge City Capital LLC raised its position in shares of Bank of Marin Bancorp by 17.9% during the first quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Bank of Marin Bancorp during the first quarter worth about $202,000. 52.26% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $20.54 on Friday. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The stock has a 50 day moving average price of $19.82 and a two-hundred day moving average price of $17.16. The stock has a market capitalization of $334.39 million, a PE ratio of 24.75 and a beta of 0.92.

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

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 4.87%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Analysts Set New Price Targets

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

Bank of Marin Bancorp Company 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.