Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Bank of Marin Bancorp (NASDAQ:BMRC) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.50 and traded as high as $26.19. Bank of Marin Bancorp shares last traded at $26.01, with a volume of 39,742 shares trading hands.

Wall Street Analysts Forecast Growth

BMRC has been the subject of a number of analyst reports. UBS Group set a $30.00 price objective on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. DA Davidson raised their price objective on Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Marin Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.40.

Bank of Marin Bancorp Price Performance

The company has a fifty day moving average of $24.72 and a two-hundred day moving average of $23.52. The stock has a market capitalization of $418.63 million, a P/E ratio of 41.95 and a beta of 0.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, March 7th. The bank reported $0.61 EPS for the quarter. The company had revenue of $31.32 million during the quarter. Bank of Marin Bancorp had a return on equity of 5.27% and a net margin of 6.22%. As a group, equities research analysts predict that Bank of Marin Bancorp will post 1.61 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 13th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, November 6th. Bank of Marin Bancorp’s dividend payout ratio is 161.29%.

Bank of Marin Bancorp announced that its Board of Directors has authorized a share repurchase plan on Monday, July 28th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the bank to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Bank of Marin Bancorp by 29.7% during the first quarter. CWM LLC now owns 2,753 shares of the bank’s stock valued at $61,000 after purchasing an additional 630 shares in the last quarter. First Trust Advisors LP increased its stake in Bank of Marin Bancorp by 7.1% during the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock valued at $241,000 after buying an additional 696 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Bank of Marin Bancorp by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 121,721 shares of the bank’s stock worth $2,686,000 after buying an additional 954 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bank of Marin Bancorp by 124.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after acquiring an additional 1,040 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,221 shares in the last quarter. 52.26% of the stock is owned by 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.