Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, November 5th will be given a dividend of $0.25 per share by the bank on Thursday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, November 5th.
Bank of Marin Bancorp has a payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $2.46 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 40.7%.
Bank of Marin Bancorp Stock Up 3.0%
Bank of Marin Bancorp stock opened at $29.21 on Tuesday. The stock has a market cap of $472.91 million, a PE ratio of -38.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72. Bank of Marin Bancorp has a one year low of $23.35 and a one year high of $30.92. The stock has a fifty day moving average of $27.39 and a 200 day moving average of $26.82.
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last released its quarterly earnings results on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Bank of Marin Bancorp had a positive return on equity of 9.38% and a negative net margin of 6.48%. The business had revenue of $35.07 million during the quarter, compared to the consensus estimate of $35.11 million. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 2.33 EPS for the current year.
Hedge Funds Weigh In On Bank of Marin Bancorp
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Bank of Marin Bancorp during the 2nd quarter valued at $43,000. Allworth Financial LP bought a new position in Bank of Marin Bancorp in the 2nd quarter worth $87,000. Wealth Enhancement Advisory Services LLC bought a new position in Bank of Marin Bancorp in the 2nd quarter worth $266,000. Lodestar Private Asset Management LLC increased its stake in Bank of Marin Bancorp by 8.4% in the 3rd quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock worth $298,000 after buying an additional 849 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Bank of Marin Bancorp in the 2nd quarter worth $380,000. 52.26% of the stock is currently owned by institutional investors.
About Bank of Marin Bancorp
Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.
Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.
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