Bank of Marin Bancorp (NASDAQ:BMRC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Bank of Marin Bancorp (NASDAQ:BMRC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.12 and traded as high as $24.71. Bank of Marin Bancorp shares last traded at $23.41, with a volume of 57,393 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMRC. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th.

Bank of Marin Bancorp Price Performance

The firm’s fifty day simple moving average is $24.16 and its 200 day simple moving average is $23.12. The company has a market capitalization of $376.50 million, a price-to-earnings ratio of -45.02 and a beta of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 27th. The bank reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same period in the previous year, the business earned $0.04 earnings per share. Equities research analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio is currently -192.31%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Bank of Marin Bancorp by 157.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank’s stock worth $26,000 after purchasing an additional 663 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Bank of Marin Bancorp during the third quarter worth approximately $74,000. SG Americas Securities LLC boosted its holdings in shares of Bank of Marin Bancorp by 7.1% during the fourth quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after purchasing an additional 430 shares during the period. Wulff Hansen & CO. acquired a new stake in shares of Bank of Marin Bancorp during the fourth quarter worth approximately $200,000. Finally, Raymond James Financial Inc. acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at approximately $200,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.