Renaissance Technologies LLC Has $3.06 Million Stock Holdings in Bank of Marin Bancorp $BMRC

Renaissance Technologies LLC boosted its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 25.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 119,392 shares of the bank’s stock after acquiring an additional 24,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Bank of Marin Bancorp were worth $3,060,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after buying an additional 379 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock valued at $72,000 after acquiring an additional 407 shares during the last quarter. State of Wyoming lifted its stake in shares of Bank of Marin Bancorp by 2.8% in the 4th quarter. State of Wyoming now owns 15,885 shares of the bank’s stock valued at $413,000 after acquiring an additional 433 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Bank of Marin Bancorp by 7.1% during the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock valued at $241,000 after acquiring an additional 696 shares in the last quarter. Finally, Lodestar Private Asset Management LLC boosted its holdings in shares of Bank of Marin Bancorp by 10.0% during the 1st quarter. Lodestar Private Asset Management LLC now owns 10,156 shares of the bank’s stock valued at $260,000 after acquiring an additional 925 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 1.3%

Bank of Marin Bancorp stock opened at $28.37 on Friday. The firm has a market cap of $459.31 million, a price-to-earnings ratio of -31.18 and a beta of 0.79. Bank of Marin Bancorp has a 52-week low of $21.77 and a 52-week high of $30.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50 day moving average price of $27.61 and a two-hundred day moving average price of $26.54.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.44%. The company had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.02 million. Equities analysts predict that Bank of Marin Bancorp will post 2.31 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 3.5%. Bank of Marin Bancorp’s payout ratio is presently -109.89%.

Analysts Set New Price Targets

BMRC has been the subject of a number of recent research reports. Weiss Ratings raised Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. DA Davidson set a $34.00 price target on Bank of Marin Bancorp and gave the stock a “buy” rating in a report on Tuesday, July 28th. Stephens set a $30.00 price objective on Bank of Marin Bancorp and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.50.

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.