Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Shares of Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.96 and traded as high as $24.50. Bank of Marin Bancorp shares last traded at $23.52, with a volume of 39,699 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on BMRC. StockNews.com raised Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, December 10th. Stephens raised shares of Bank of Marin Bancorp from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. DA Davidson upgraded shares of Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted 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.

Bank of Marin Bancorp Trading Down 1.5 %

The company has a 50-day moving average of $24.40 and a 200-day moving average of $21.00. The firm has a market capitalization of $378.27 million, a price-to-earnings ratio of -27.35 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The company had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. During the same period last year, the firm posted $0.33 EPS. On average, research analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp's dividend payout ratio (DPR) is presently -116.28%.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its position 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 buying an additional 656 shares during the period. Empowered Funds LLC grew its position in shares of Bank of Marin Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 22,644 shares of the bank's stock worth $455,000 after acquiring an additional 1,072 shares during the last quarter. Hsbc Holdings PLC lifted its position in Bank of Marin Bancorp by 21.1% in the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank's stock valued at $199,000 after purchasing an additional 2,131 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Bank of Marin Bancorp by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank's stock valued at $315,000 after purchasing an additional 2,469 shares during the period. Finally, Sei Investments Co. grew its position in Bank of Marin Bancorp by 23.3% in the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank's stock worth $231,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Bank of Marin Bancorp Company Profile

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.