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

Bank of Marin Bancorp (NASDAQ:BMRC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.55 and traded as high as $22.90. Bank of Marin Bancorp shares last traded at $22.31, with a volume of 108,990 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BMRC shares. StockNews.com upgraded 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 report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, January 2nd.

Bank of Marin Bancorp Price Performance

The firm has a 50-day simple moving average of $24.64 and a 200 day simple moving average of $21.55. The company has a market capitalization of $358.81 million, a PE ratio of -25.94 and a beta of 0.93.

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

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Trading of Bank of Marin Bancorp

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

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.