Heartland Advisors Inc. Buys Shares of 325,508 Bank of Marin Bancorp $BMRC

Heartland Advisors Inc. purchased a new stake in shares of Bank of Marin Bancorp (NASDAQ:BMRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 325,508 shares of the bank’s stock, valued at approximately $9,017,000. Heartland Advisors Inc. owned 2.01% of Bank of Marin Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Allworth Financial LP acquired a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth about $87,000. Algebris UK Ltd. bought a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $8,092,000. Paladin Partners LLC acquired a new position in Bank of Marin Bancorp during the 2nd quarter valued at about $53,000. BlackRock Inc. acquired a new position in Bank of Marin Bancorp during the 2nd quarter valued at about $44,326,000. Finally, Deutsche Bank AG bought a new position in Bank of Marin Bancorp in the 2nd quarter worth about $405,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

BMRC has been the topic of several analyst reports. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Brean Capital downgraded Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, July 28th. DA Davidson set a $34.00 price objective on Bank of Marin Bancorp and gave the stock a “buy” rating in a report on Tuesday, July 28th. Piper Sandler reissued a “neutral” rating and issued a $30.00 price objective (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday, July 31st. Finally, Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $26.91 on Friday. The firm has a 50-day moving average price of $28.02 and a 200 day moving average price of $26.62. The firm has a market capitalization of $435.67 million, a PE ratio of -29.57 and a beta of 0.79. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 52-week low of $22.50 and a 52-week high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $33.95 million for the quarter, compared to analysts’ expectations of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -109.89%.

Bank of Marin Bancorp Company 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.