Elizabeth Park Capital Advisors Ltd. Lowers Stake in Bank of Marin Bancorp $BMRC

Elizabeth Park Capital Advisors Ltd. lessened its holdings in Bank of Marin Bancorp (NASDAQ:BMRC) by 46.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,512 shares of the bank’s stock after selling 96,343 shares during the period. Bank of Marin Bancorp comprises about 2.2% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 21st largest holding. Elizabeth Park Capital Advisors Ltd.’s holdings in Bank of Marin Bancorp were worth $2,683,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. HoldCo Asset Management LP purchased a new position in Bank of Marin Bancorp during the second quarter worth approximately $9,305,000. Fourthstone LLC increased its position 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 buying an additional 205,969 shares in the last quarter. UBS Group AG raised its stake in shares of Bank of Marin Bancorp by 143.9% during the 3rd quarter. UBS Group AG now owns 166,615 shares of the bank’s stock worth $4,045,000 after buying an additional 98,311 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Bank of Marin Bancorp during the 2nd quarter worth approximately $1,365,000. Finally, SummerHaven Investment Management LLC purchased a new position in shares of Bank of Marin Bancorp during the 3rd quarter valued at approximately $799,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BMRC. Zacks Research cut shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Piper Sandler reaffirmed a “neutral” rating and set a $30.50 price objective on shares of Bank of Marin Bancorp in a 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. Finally, Stephens restated an “overweight” rating and set a $29.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.10.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $23.90 on Friday. The stock has a 50 day moving average price of $26.28 and a 200 day moving average price of $25.74. Bank of Marin Bancorp has a one year low of $19.14 and a one year high of $28.48. The stock has a market capitalization of $384.55 million, a price-to-earnings ratio of -10.62 and a beta of 0.89.

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

Bank of Marin Bancorp Announces Dividend

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

About Bank of Marin Bancorp

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.