Bank of Marin Bancorp (NASDAQ:BMRC) insider Peter Pelham sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $65.61, for a total value of $262,440.00. Following the sale, the insider now directly owns 11,211 shares of the company’s stock, valued at approximately $735,553.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) opened at 64.40 on Wednesday. The company has a market cap of $391.75 million, a PE ratio of 17.55 and a beta of 0.68. Bank of Marin Bancorp has a 12 month low of $45.65 and a 12 month high of $67.43. The firm’s 50-day moving average price is $55.39 and its 200-day moving average price is $51.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 24th. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.35. Bank of Marin Bancorp had a return on equity of 10.01% and a net margin of 26.76%. Equities analysts predict that Bank of Marin Bancorp will post $3.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were paid a dividend of $0.27 per share. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Wednesday, November 2nd. Bank of Marin Bancorp’s payout ratio is currently 29.43%.

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Several hedge funds and other institutional investors have recently modified their holdings of BMRC. BlackRock Inc. increased its position in shares of Bank of Marin Bancorp by 3.8% in the third quarter. BlackRock Inc. now owns 2,094 shares of the company’s stock valued at $104,000 after buying an additional 77 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Bank of Marin Bancorp by 22.9% in the third quarter. Acrospire Investment Management LLC now owns 2,255 shares of the company’s stock valued at $112,000 after buying an additional 420 shares in the last quarter. Bank of Montreal Can increased its position in shares of Bank of Marin Bancorp by 33.8% in the third quarter. Bank of Montreal Can now owns 2,353 shares of the company’s stock valued at $117,000 after buying an additional 595 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Bank of Marin Bancorp by 1.3% in the second quarter. BlackRock Advisors LLC now owns 3,181 shares of the company’s stock valued at $154,000 after buying an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Bank of Marin Bancorp by 7.8% in the third quarter. D.A. Davidson & CO. now owns 3,239 shares of the company’s stock valued at $161,000 after buying an additional 233 shares in the last quarter. Institutional investors own 39.52% of the company’s stock.

Separately, Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, September 26th.

About Bank of Marin Bancorp

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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