Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $26.85 and traded as high as $27.56. Bank of Marin Bancorp shares last traded at $27.25, with a volume of 124,443 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Stephens set a $30.00 price objective on Bank of Marin Bancorp and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. DA Davidson set a $34.00 price target on shares of Bank of Marin Bancorp and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Piper Sandler restated a “neutral” rating and set a $29.00 target price (down from $30.00) on shares of Bank of Marin Bancorp in a research report on Thursday. Finally, Zacks Research raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.33.
Get Our Latest Stock Report on Bank of Marin Bancorp
Bank of Marin Bancorp Price Performance
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $34.02 million. As a group, research analysts anticipate that Bank of Marin Bancorp will post 2.28 earnings per share for the current year.
Bank of Marin Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s payout ratio is currently -109.89%.
Institutional Investors Weigh In On Bank of Marin Bancorp
Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $44,326,000. The Manufacturers Life Insurance Company acquired a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $12,642,000. Heartland Advisors Inc. acquired a new stake in Bank of Marin Bancorp in the second quarter valued at approximately $9,017,000. Algebris UK Ltd. purchased a new stake in shares of Bank of Marin Bancorp during the second quarter valued at approximately $8,092,000. Finally, Algert Global LLC purchased a new stake in shares of Bank of Marin Bancorp during the second quarter valued at approximately $2,574,000. Institutional investors and hedge funds own 52.26% of the company’s stock.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.
Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.
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