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

Bank of Marin Bancorp (NASDAQ:BMRC) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.97 and traded as high as $26.32. Bank of Marin Bancorp shares last traded at $25.66, with a volume of 157,509 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bank of Marin Bancorp in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. DA Davidson boosted their target price on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of Marin Bancorp has an average rating of “Moderate Buy” and a consensus price target of $26.25.

Bank of Marin Bancorp Stock Up 4.9%

The firm has a market cap of $413.64 million, a price-to-earnings ratio of 59.67 and a beta of 0.89. The business’s 50-day simple moving average is $24.19 and its two-hundred day simple moving average is $22.97.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, March 7th. The bank reported $0.61 EPS for the quarter. The business had revenue of $31.32 million during the quarter. Bank of Marin Bancorp had a net margin of 4.43% and a return on equity of 4.60%. On average, analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Bank of Marin Bancorp’s payout ratio is currently 232.56%.

Bank of Marin Bancorp announced that its board has approved a share repurchase program on Monday, July 28th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Bank of Marin Bancorp

Several large investors have recently bought and sold shares of BMRC. Tower Research Capital LLC TRC grew its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after acquiring an additional 1,040 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Bank of Marin Bancorp by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC grew its stake in Bank of Marin Bancorp by 29.7% during the 1st quarter. CWM LLC now owns 2,753 shares of the bank’s stock valued at $61,000 after acquiring an additional 630 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Bank of Marin Bancorp during the 2nd quarter valued at about $69,000. Finally, Quantbot Technologies LP purchased a new stake in Bank of Marin Bancorp during the 2nd quarter valued at about $70,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.