Bank of Montreal Can Has $141,000 Stake in Bank of Marin Bancorp (NASDAQ:BMRC)

Bank of Montreal Can lessened its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,290 shares of the bank’s stock after selling 67 shares during the period. Bank of Montreal Can’s holdings in Bank of Marin Bancorp were worth $141,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BMRC. Prudential Financial Inc. raised its holdings in Bank of Marin Bancorp by 0.3% during the 1st quarter. Prudential Financial Inc. now owns 46,272 shares of the bank’s stock worth $2,978,000 after buying an additional 140 shares during the period. Bank of America Corp DE raised its holdings in Bank of Marin Bancorp by 13.9% during the 1st quarter. Bank of America Corp DE now owns 1,684 shares of the bank’s stock worth $108,000 after buying an additional 206 shares during the period. American International Group Inc. raised its holdings in Bank of Marin Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 3,670 shares of the bank’s stock worth $236,000 after buying an additional 240 shares during the period. Grandeur Peak Global Advisors LLC raised its holdings in Bank of Marin Bancorp by 15.5% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 2,975 shares of the bank’s stock worth $191,000 after buying an additional 400 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in Bank of Marin Bancorp by 0.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 62,727 shares of the bank’s stock worth $4,036,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 42.41% of the company’s stock.

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Shares of Bank of Marin Bancorp (BMRC) traded down 2.35% on Friday, hitting $64.30. The company had a trading volume of 20,607 shares. Bank of Marin Bancorp has a 12-month low of $49.10 and a 12-month high of $75.05. The company has a market capitalization of $392.87 million, a P/E ratio of 17.68 and a beta of 0.89. The firm has a 50-day moving average price of $65.01 and a 200 day moving average price of $64.60.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, July 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a return on equity of 9.55% and a net margin of 26.72%. The company had revenue of $20.40 million during the quarter, compared to analyst estimates of $20.33 million. Equities analysts expect that Bank of Marin Bancorp will post $3.27 EPS for the current year.

A number of brokerages have recently weighed in on BMRC. Piper Jaffray Companies set a $68.00 target price on Bank of Marin Bancorp and gave the company a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub cut Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 target price on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. Finally, ValuEngine raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.75.

Bank of Marin Bancorp Profile

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

Institutional Ownership by Quarter for Bank of Marin Bancorp (NASDAQ:BMRC)

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