Bank of New York Mellon Corp raised its stake in Bank of Marin Bancorp (NASDAQ:BMRC) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,433 shares of the company’s stock after buying an additional 483 shares during the period. Bank of New York Mellon Corp owned 0.37% of Bank of Marin Bancorp worth $1,085,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new position in Bank of Marin Bancorp during the second quarter worth approximately $513,000. Confluence Investment Management LLC boosted its position in Bank of Marin Bancorp by 9.7% in the second quarter. Confluence Investment Management LLC now owns 44,250 shares of the company’s stock worth $2,140,000 after buying an additional 3,900 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Bank of Marin Bancorp by 1.4% in the first quarter. Geode Capital Management LLC now owns 33,584 shares of the company’s stock worth $1,653,000 after buying an additional 471 shares during the last quarter. Institutional investors and hedge funds own 38.82% of the company’s stock.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up 0.79% on Friday, reaching $50.90. The company’s stock had a trading volume of 6,242 shares. The firm has a market capitalization of $309.37 million, a PE ratio of 15.33 and a beta of 0.69. The firm has a 50-day moving average price of $49.80 and a 200 day moving average price of $49.49. Bank of Marin Bancorp has a one year low of $45.65 and a one year high of $56.77.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.79 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. Bank of Marin Bancorp had a return on equity of 9.23% and a net margin of 24.79%. On average, analysts anticipate that Bank of Marin Bancorp will post $3.31 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th.
In other Bank of Marin Bancorp news, Director H Robert Heller sold 1,776 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $48.99, for a total transaction of $87,006.24. Following the sale, the director now directly owns 63 shares of the company’s stock, valued at $3,086.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.94% of the company’s stock.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s customer base is made up of business and personal banking relationships from the communities near the branch office locations. Its business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations.
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