Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Bank of Marin Bancorp (NASDAQ:BMRC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.73 and traded as high as $25.84. Bank of Marin Bancorp shares last traded at $25.33, with a volume of 74,954 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BMRC shares. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Finally, Piper Sandler boosted their price target on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Bank of Marin Bancorp Price Performance

The business’s fifty day moving average price is $22.65 and its 200-day moving average price is $22.73. The stock has a market capitalization of $410.85 million, a PE ratio of -63.33 and a beta of 0.86.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $35.24 million for the quarter, compared to the consensus estimate of $27.99 million. Bank of Marin Bancorp had a negative net margin of 4.20% and a positive return on equity of 3.77%. On average, analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.95%. Bank of Marin Bancorp’s payout ratio is presently -250.00%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new position in Bank of Marin Bancorp in the fourth quarter worth about $1,374,000. Raymond James Financial Inc. purchased a new position in Bank of Marin Bancorp in the 4th quarter worth approximately $200,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bank of Marin Bancorp in the 4th quarter worth approximately $386,000. American Century Companies Inc. increased its stake in Bank of Marin Bancorp by 2.1% in the 4th quarter. American Century Companies Inc. now owns 141,903 shares of the bank’s stock worth $3,373,000 after acquiring an additional 2,945 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Bank of Marin Bancorp by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 826,177 shares of the bank’s stock worth $19,638,000 after acquiring an additional 9,770 shares during the last quarter. 52.26% of the stock is currently 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.