Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Update

Bank of Marin Bancorp (NASDAQ:BMRC) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 524,645 shares, an increase of 21.8% from the December 31st total of 430,721 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average trading volume of 110,455 shares, the days-to-cover ratio is currently 4.7 days. Based on an average trading volume of 110,455 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.5% of the shares of the company are sold short.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC traded up $0.16 during trading hours on Tuesday, hitting $27.57. 4,447 shares of the company’s stock traded hands, compared to its average volume of 101,154. The firm has a market cap of $443.60 million, a P/E ratio of -12.28 and a beta of 0.88. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48. The stock’s fifty day moving average price is $26.81 and its two-hundred day moving average price is $25.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of ($35.47) million for the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. On average, equities research 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 business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP raised its stake 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 worth $241,000 after purchasing an additional 696 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Bank of Marin Bancorp by 124.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after buying an additional 1,040 shares in the last quarter. CWM LLC increased its holdings in Bank of Marin Bancorp by 41.5% in the second quarter. CWM LLC now owns 3,895 shares of the bank’s stock worth $89,000 after buying an additional 1,142 shares during the last quarter. Torren Management LLC acquired a new position in Bank of Marin Bancorp in the fourth quarter worth approximately $31,000. Finally, Russell Investments Group Ltd. raised its position in Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,221 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating and set a $30.50 target price on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. UBS Group set a $30.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $30.00 price objective (up from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. Finally, DA Davidson lifted their target price on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.10.

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.