Bank of Marin Bancorp (NASDAQ:BMRC) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Bank of Marin Bancorp (NASDAQ:BMRC)’s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $27.04 and traded as high as $27.19. Bank of Marin Bancorp shares last traded at $26.71, with a volume of 142,469 shares trading hands.

Analyst Upgrades and Downgrades

BMRC has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their target price on Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Zacks Research upgraded Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Brean Capital downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bank of Marin Bancorp in a research report on Friday, September 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of Bank of Marin Bancorp in a research note on Thursday, October 1st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.33.

Bank of Marin Bancorp Stock Performance

The stock has a 50-day simple moving average of $27.55 and a 200-day simple moving average of $27.05. The company has a market capitalization of $422.88 million, a price-to-earnings ratio of -28.70 and a beta of 0.82. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. The business had revenue of $33.95 million during the quarter, compared to analyst estimates of $34.02 million. On average, 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 company 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 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -109.89%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Bank of Marin Bancorp in the 2nd quarter worth approximately $44,326,000. The Manufacturers Life Insurance Company bought a new stake in Bank of Marin Bancorp during the 2nd quarter valued at $12,642,000. Heartland Advisors Inc. acquired a new position in Bank of Marin Bancorp during the 2nd quarter worth $9,017,000. Algebris UK Ltd. acquired a new position in Bank of Marin Bancorp during the 2nd quarter worth $8,092,000. Finally, Algert Global LLC bought a new position in shares of Bank of Marin Bancorp in the second quarter worth $2,574,000. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is a bank holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals and businesses through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, business loans, lines of credit, construction financing and consumer loans. Bank of Marin also offers cash-management services, treasury management, online and mobile banking, and wealth management services through its affiliated or partnered offerings.

Founded in 1990, Bank of Marin has historically focused on relationship-based banking for customers in the North Bay and surrounding Northern California communities, including Marin, Napa and Sonoma counties and parts of the greater San Francisco Bay Area.