Bank of Marin Bancorp (BMRC) To Go Ex-Dividend on May 8th

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Thursday, May 8th will be paid a dividend of 0.25 per share by the bank on Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, May 8th.

Bank of Marin Bancorp has raised its dividend by an average of 2.1% per year over the last three years. Bank of Marin Bancorp has a payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Marin Bancorp to earn $1.89 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 52.9%.

Bank of Marin Bancorp Trading Down 0.5 %

Shares of BMRC opened at $21.25 on Tuesday. The firm’s 50-day moving average price is $21.66 and its 200-day moving average price is $23.38. The firm has a market capitalization of $344.31 million, a price-to-earnings ratio of -40.86 and a beta of 0.84. Bank of Marin Bancorp has a 1-year low of $14.44 and a 1-year high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. The firm had revenue of $35.24 million during the quarter, compared to analysts’ expectations of $27.99 million. On average, research analysts forecast that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Analyst Ratings Changes

BMRC has been the topic of a number of analyst reports. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Stephens reissued an “overweight” rating and set a $26.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th.

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.