Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.64 and traded as high as $28.02. Bank of Marin Bancorp shares last traded at $27.96, with a volume of 94,872 shares trading hands.

Wall Street Analyst Weigh In

BMRC has been the subject of a number of recent analyst reports. Zacks Research raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Brean Capital downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Tuesday, July 28th. Piper Sandler restated a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday, July 31st. Stephens set a $30.00 target price on Bank of Marin Bancorp and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Marin Bancorp has an average rating of “Hold” and an average price target of $31.50.

Bank of Marin Bancorp Trading Up 2.3%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.72. The company has a fifty day moving average of $28.08 and a 200-day moving average of $26.65. The firm has a market capitalization of $459.80 million, a PE ratio of -31.21 and a beta of 0.78.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, July 27th. The bank reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.51% and a negative net margin of 7.98%.The firm had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. On average, sell-side analysts anticipate that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -109.89%.

Institutional Trading of Bank of Marin Bancorp

Several large investors have recently added to or reduced their stakes in BMRC. Squarepoint Ops LLC raised its holdings in shares of Bank of Marin Bancorp by 109.8% during the 2nd quarter. Squarepoint Ops LLC now owns 32,763 shares of the bank’s stock valued at $908,000 after purchasing an additional 17,143 shares in the last quarter. United Capital Financial Advisors LLC acquired a new stake in shares of Bank of Marin Bancorp in the 2nd quarter valued at $960,000. Bank of America Corp DE bought a new stake in Bank of Marin Bancorp in the second quarter worth $678,000. Legal & General Group Plc bought a new stake in Bank of Marin Bancorp in the second quarter worth $43,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Bank of Marin Bancorp during the second quarter worth $12,642,000. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.

Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.