Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Up 6.5% in November

Bank of Marin Bancorp (NASDAQ:BMRC) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 635,500 shares, an increase of 6.5% from the October 31st total of 596,600 shares. Based on an average daily trading volume, of 74,800 shares, the short-interest ratio is currently 8.5 days.

Wall Street Analyst Weigh In

BMRC has been the subject of several analyst reports. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, October 10th. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 11th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after buying an additional 1,096 shares during the last quarter. Riverview Trust Co boosted its holdings in shares of Bank of Marin Bancorp by 105.5% during the 2nd quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after buying an additional 1,001 shares in the last quarter. Fiduciary Financial Group LLC purchased a new position in Bank of Marin Bancorp during the second quarter worth about $287,000. Assenagon Asset Management S.A. bought a new stake in shares of Bank of Marin Bancorp in the second quarter valued at approximately $396,000. Finally, Rhumbline Advisers grew its holdings in shares of Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after purchasing an additional 656 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

BMRC opened at $25.60 on Tuesday. Bank of Marin Bancorp has a 12-month low of $14.11 and a 12-month high of $27.11. The business’s fifty day simple moving average is $22.97 and its 200-day simple moving average is $19.84.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. The company had revenue of $39.21 million during the quarter, compared to the consensus estimate of $27.30 million. During the same period in the previous year, the company posted $0.33 EPS. Equities analysts predict that Bank of Marin Bancorp will post 0.88 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 3.91%. Bank of Marin Bancorp’s payout ratio is -116.28%.

About Bank of Marin Bancorp

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.