Bank of Marin Bancorp (NASDAQ:BMRC) CEO Russell A. Colombo sold 500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $41.00, for a total value of $20,500.00. Following the completion of the sale, the chief executive officer now owns 19,390 shares of the company’s stock, valued at $794,990. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Bank of Marin Bancorp stock traded down $0.01 during trading on Friday, hitting $45.15. 16,700 shares of the stock traded hands, compared to its average volume of 31,774. The firm has a market cap of $611.63 million, a P/E ratio of 19.38 and a beta of 0.54. Bank of Marin Bancorp has a 52-week low of $38.00 and a 52-week high of $45.55. The stock’s fifty day simple moving average is $42.60 and its 200 day simple moving average is $42.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.05.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. The firm had revenue of $26.87 million for the quarter, compared to analyst estimates of $26.19 million. Bank of Marin Bancorp had a net margin of 31.54% and a return on equity of 10.83%. As a group, equities analysts expect that Bank of Marin Bancorp will post 2.44 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, October 31st. Bank of Marin Bancorp’s dividend payout ratio is currently 36.05%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Bank of Marin Bancorp by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 700,675 shares of the bank’s stock valued at $28,742,000 after acquiring an additional 6,089 shares in the last quarter. Northern Trust Corp grew its position in shares of Bank of Marin Bancorp by 0.7% during the second quarter. Northern Trust Corp now owns 182,999 shares of the bank’s stock worth $7,506,000 after buying an additional 1,307 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Bank of Marin Bancorp by 0.5% during the second quarter. Confluence Investment Management LLC now owns 127,581 shares of the bank’s stock worth $5,234,000 after buying an additional 619 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Bank of Marin Bancorp by 1.8% during the third quarter. Boston Trust Walden Corp now owns 97,878 shares of the bank’s stock worth $4,061,000 after buying an additional 1,741 shares in the last quarter. Finally, BTIM Corp. acquired a new position in shares of Bank of Marin Bancorp during the second quarter worth about $3,943,000. 44.98% of the stock is owned by institutional investors.
Several research firms have recently weighed in on BMRC. BidaskClub upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. ValuEngine downgraded Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 5th. Finally, Zacks Investment Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 24th.
About Bank of Marin Bancorp
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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