Bank of Marin Bancorp (NASDAQ:BMRC) Announces Quarterly Dividend of $0.25

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.25 per share by the bank on Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Wednesday, May 8th.

Bank of Marin Bancorp has increased its dividend payment by an average of 2.8% annually over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 70.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Marin Bancorp to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 71.4%.

Bank of Marin Bancorp Trading Up 1.8 %

NASDAQ:BMRC opened at $15.84 on Tuesday. Bank of Marin Bancorp has a twelve month low of $13.84 and a twelve month high of $23.24. The company has a market cap of $258.19 million, a price-to-earnings ratio of 19.08 and a beta of 0.88. The stock has a fifty day simple moving average of $15.96 and a 200-day simple moving average of $18.23.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.10). Bank of Marin Bancorp had a return on equity of 4.11% and a net margin of 9.28%. The business had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. During the same quarter last year, the business posted $0.59 earnings per share. As a group, equities research analysts predict that Bank of Marin Bancorp will post 0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRC has been the subject of several recent research reports. DA Davidson decreased their price objective on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Stephens reduced their price target on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Bank of Marin Bancorp from $25.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday.

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.