Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.25 per share by the bank on Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 6.43%. The ex-dividend date is Wednesday, May 8th.
Bank of Marin Bancorp has increased its dividend by an average of 2.8% annually over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 70.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of Marin Bancorp to earn $1.40 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 71.4%.
Bank of Marin Bancorp Stock Up 2.4 %
Shares of BMRC opened at $15.56 on Monday. The company has a market capitalization of $253.63 million, a P/E ratio of 18.75 and a beta of 0.88. The firm has a 50 day moving average of $15.98 and a 200 day moving average of $18.25. Bank of Marin Bancorp has a twelve month low of $12.89 and a twelve month high of $23.24.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on BMRC shares. Stephens reduced their price target on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Bank of Marin Bancorp from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday. Finally, DA Davidson dropped their target price on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th.
View Our Latest Report on Bank of Marin Bancorp
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.
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