Bank of Marin Bancorp (NASDAQ:BMRC) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.92 and traded as high as $25.12. Bank of Marin Bancorp shares last traded at $24.31, with a volume of 56,207 shares trading hands.

Wall Street Analyst Weigh In

BMRC has been the topic of several recent research reports. Stephens reissued an "overweight" rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st.

Bank of Marin Bancorp Price Performance

The company has a market cap of $392.10 million, a price-to-earnings ratio of -46.88 and a beta of 0.94. The business's fifty day moving average price is $24.16 and its 200 day moving average price is $23.01.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, January 27th. The bank reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, equities research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Remove Ads

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. Bank of Marin Bancorp's dividend payout ratio (DPR) is currently -192.31%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in Bank of Marin Bancorp by 157.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock valued at $26,000 after buying an additional 663 shares during the period. Quantbot Technologies LP acquired a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at about $74,000. SG Americas Securities LLC lifted its stake in shares of Bank of Marin Bancorp by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank's stock valued at $155,000 after purchasing an additional 430 shares during the period. Wulff Hansen & CO. bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $200,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bank of Marin Bancorp during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds own 52.26% of the company's stock.

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.