Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Bank of Marin Bancorp (NASDAQ:BMRC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.96 and traded as high as $24.50. Bank of Marin Bancorp shares last traded at $23.52, with a volume of 39,699 shares traded.

Analysts Set New Price Targets

BMRC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. DA Davidson upgraded Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 10th. Finally, Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th.

Bank of Marin Bancorp Stock Down 1.5 %

The company has a market capitalization of $378.27 million, a PE ratio of -27.35 and a beta of 0.93. The company’s 50 day moving average is $24.40 and its two-hundred day moving average is $20.96.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same quarter last year, the business posted $0.33 earnings per share. Analysts forecast that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.25%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -116.28%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp in the third quarter worth about $74,000. SG Americas Securities LLC purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter worth approximately $122,000. XTX Topco Ltd purchased a new position in shares of Bank of Marin Bancorp in the 2nd quarter worth approximately $168,000. Hsbc Holdings PLC increased its position in shares of Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,131 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Bank of Marin Bancorp by 23.3% during the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after buying an additional 2,700 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

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.