Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.60 and traded as high as $28.42. Bank of Marin Bancorp shares last traded at $28.16, with a volume of 132,513 shares trading hands.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on BMRC. Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. DA Davidson set a $34.00 price objective on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.50.
View Our Latest Report on BMRC
Bank of Marin Bancorp Price Performance
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The company had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.
Bank of Marin Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently -109.89%.
Institutional Investors Weigh In On Bank of Marin Bancorp
Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Bank of Marin Bancorp by 43.4% during the 1st quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock valued at $877,000 after purchasing an additional 12,019 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after acquiring an additional 8,242 shares during the period. Empowered Funds LLC increased its holdings in shares of Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares during the period. Jane Street Group LLC bought a new position in shares of Bank of Marin Bancorp in the 1st quarter worth $441,000. Finally, Quantbot Technologies LP bought a new position in shares of Bank of Marin Bancorp in the 2nd quarter worth $70,000. 52.26% of the stock is owned by hedge funds and other institutional investors.
Bank of Marin Bancorp Company Profile
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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