Bank of Marin Bancorp (NASDAQ:BMRC) Short Interest Down 14.2% in July

Bank of Marin Bancorp (NASDAQ:BMRC) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 669,900 shares, a drop of 14.2% from the June 30th total of 781,000 shares. Based on an average daily trading volume, of 82,700 shares, the days-to-cover ratio is currently 8.1 days.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC increased its holdings in Bank of Marin Bancorp by 21.4% during the 1st quarter. ProShare Advisors LLC now owns 449,962 shares of the bank’s stock valued at $7,546,000 after purchasing an additional 79,291 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the 1st quarter valued at $816,000. SG Americas Securities LLC increased its stake in shares of Bank of Marin Bancorp by 29.7% in the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock valued at $202,000 after buying an additional 2,105 shares during the period. Cerity Partners LLC acquired a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at $430,000. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at $355,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 target price on shares of Bank of Marin Bancorp in a research report on Friday, June 28th. Stephens restated an “equal weight” rating and set a $16.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Finally, DA Davidson cut their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th.

Bank of Marin Bancorp Stock Down 12.3 %

BMRC stock traded down $2.74 during midday trading on Monday, reaching $19.61. 152,365 shares of the company’s stock traded hands, compared to its average volume of 73,335. The company has a 50-day simple moving average of $16.74 and a two-hundred day simple moving average of $16.91. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.24. The company has a market cap of $319.45 million, a price-to-earnings ratio of 26.93 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.09%. The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $26.90 million. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Bank of Marin Bancorp will post 0.93 EPS for the current year.

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.