Bank of Marin Bancorp (NASDAQ:BMRC) Declares Quarterly Dividend of $0.25

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.25 per share by the bank on Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has increased its dividend by an average of 2.8% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. Bank of Marin Bancorp has a dividend payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $1.49 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 67.1%.

Bank of Marin Bancorp Trading Up 2.2 %

Shares of BMRC traded up $0.48 during trading hours on Tuesday, reaching $22.49. The stock had a trading volume of 45,104 shares, compared to its average volume of 76,931. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $23.35. The firm has a 50-day simple moving average of $20.99 and a 200 day simple moving average of $18.41. The company has a market capitalization of $366.14 million, a price-to-earnings ratio of -26.15 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same period last year, the firm posted $0.33 EPS. On average, equities analysts forecast that Bank of Marin Bancorp will post 0.89 EPS for the current year.

Analysts Set New Price Targets

BMRC has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. StockNews.com upgraded Bank of Marin Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, DA Davidson upgraded Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, October 10th.

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.