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

Bank of Marin Bancorp (NASDAQ:BMRC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $25.34 and traded as high as $28.04. Bank of Marin Bancorp shares last traded at $27.29, with a volume of 136,142 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BMRC shares. Stephens reiterated an “overweight” rating and set a $29.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Wall Street Zen downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. UBS Group set a $30.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.10.

Bank of Marin Bancorp Stock Performance

The stock’s 50-day simple moving average is $26.86 and its 200 day simple moving average is $25.34. The company has a market capitalization of $439.10 million, a PE ratio of -12.13 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of ($35.47) million during the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. On average, analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Bank of Marin Bancorp by 43.4% in the first quarter. AQR Capital Management LLC now owns 39,735 shares of the bank’s stock valued at $877,000 after purchasing an additional 12,019 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Bank of Marin Bancorp by 4,337.9% in the 1st quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank’s stock valued at $186,000 after buying an additional 8,242 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Bank of Marin Bancorp by 8.3% in the 1st quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after buying an additional 1,981 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Bank of Marin Bancorp in the 1st quarter valued at $441,000. Finally, CWM LLC raised its stake in Bank of Marin Bancorp by 41.5% during the 2nd quarter. CWM LLC now owns 3,895 shares of the bank’s stock worth $89,000 after acquiring an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.