Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.55 and traded as high as $22.90. Bank of Marin Bancorp shares last traded at $22.31, with a volume of 108,990 shares.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on BMRC shares. Keefe, Bruyette & Woods increased their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, December 10th. Stephens restated an "overweight" rating and set a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. Finally, DA Davidson upgraded Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a research report on Thursday, October 10th.
Check Out Our Latest Analysis on Bank of Marin Bancorp
Bank of Marin Bancorp Stock Performance
The company has a market cap of $358.81 million, a PE ratio of -25.94 and a beta of 0.93. The business's 50-day moving average is $24.64 and its 200 day moving average is $21.60.
Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $39.21 million for the quarter, compared to analysts' expectations of $27.30 million. During the same period in the previous year, the firm earned $0.33 EPS. Equities research analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.
Bank of Marin Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. Bank of Marin Bancorp's dividend payout ratio is currently -116.28%.
Hedge Funds Weigh In On Bank of Marin Bancorp
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Bank of Marin Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank's stock worth $405,000 after purchasing an additional 656 shares during the period. Acadian Asset Management LLC increased its stake in shares of Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank's stock worth $1,611,000 after acquiring an additional 50,874 shares in the last quarter. Choreo LLC purchased a new position in Bank of Marin Bancorp during the 2nd quarter valued at about $426,000. Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank's stock worth $11,595,000 after acquiring an additional 33,280 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Bank of Marin Bancorp by 29.5% in the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank's stock worth $2,432,000 after purchasing an additional 34,200 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.
About Bank of Marin Bancorp
(
Get Free Report)
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.
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