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

Shares of 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 $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 Ratings Changes

Several research firms have commented on BMRC. Keefe, Bruyette & Woods upped their price objective on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, October 10th. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Stephens restated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd.

Bank of Marin Bancorp Stock Performance

The business has a 50-day moving average of $24.64 and a 200 day moving average of $21.60. The stock has a market cap of $358.81 million, a PE ratio of -25.94 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share 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 during the quarter, compared to the consensus estimate of $27.30 million. During the same period in the previous year, the firm posted $0.33 EPS. Equities analysts expect that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 4.48%. The ex-dividend date was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Large investors have recently made changes to their positions in the business. Basswood Capital Management L.L.C. purchased a new stake in shares of Bank of Marin Bancorp during the third quarter valued at approximately $3,411,000. Zacks Investment Management purchased a new stake in Bank of Marin Bancorp during the 3rd quarter worth $2,195,000. Acadian Asset Management LLC lifted its holdings in Bank of Marin Bancorp by 104.4% in the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock worth $1,611,000 after buying an additional 50,874 shares in the last quarter. AQR Capital Management LLC purchased a new position in Bank of Marin Bancorp in the 2nd quarter valued at about $709,000. Finally, Renaissance Technologies LLC grew its stake in shares of Bank of Marin Bancorp by 29.5% during the second quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after acquiring an additional 34,200 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.