Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.13 and traded as high as $26.76. Bank of Marin Bancorp shares last traded at $26.54, with a volume of 197,542 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BMRC shares. Piper Sandler reduced their price objective on Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods cut their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Weiss Ratings lowered Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.40.

Check Out Our Latest Research Report on BMRC

Bank of Marin Bancorp Trading Up 5.5%

The firm’s 50 day moving average price is $25.95 and its 200 day moving average price is $26.14. The stock has a market capitalization of $449.60 million, a P/E ratio of -13.75 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) last announced its quarterly earnings data on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The firm had revenue of $34.14 million for the quarter, compared to analysts’ expectations of $33.87 million. As a group, equities research analysts expect that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio is presently -49.50%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Bank of Marin Bancorp by 268.7% during the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after acquiring an additional 687,615 shares during the period. Vanguard Group Inc. grew its holdings in shares of Bank of Marin Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock valued at $20,362,000 after purchasing an additional 5,690 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bank of Marin Bancorp by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank’s stock valued at $20,577,000 after buying an additional 32,048 shares during the period. HoldCo Asset Management LP grew its stake in shares of Bank of Marin Bancorp by 23.8% in the third quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after buying an additional 97,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Bank of Marin Bancorp by 1.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock valued at $11,759,000 after purchasing an additional 8,758 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

(Get Free Report)

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.

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