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

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.20 and traded as high as $28.75. Bank of Marin Bancorp shares last traded at $28.30, with a volume of 158,835 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler lowered their price target on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

The firm has a market cap of $459.80 million, a price-to-earnings ratio of -14.06 and a beta of 0.81. The firm has a 50 day moving average of $26.52 and a 200 day moving average of $26.21. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, April 27th. The bank reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). The business had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp’s payout ratio is presently -49.50%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently bought and sold shares of BMRC. Wealth Enhancement Advisory Services LLC bought a new stake in Bank of Marin Bancorp in the second quarter valued at $266,000. The Manufacturers Life Insurance Company boosted its position in shares of Bank of Marin Bancorp by 1.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after purchasing an additional 8,758 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Bank of Marin Bancorp by 20.6% during the 1st quarter. Quantinno Capital Management LP now owns 59,476 shares of the bank’s stock worth $1,524,000 after purchasing an additional 10,142 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Bank of Marin Bancorp by 25.3% in the 1st quarter. Renaissance Technologies LLC now owns 119,392 shares of the bank’s stock valued at $3,060,000 after buying an additional 24,100 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Bank of Marin Bancorp by 142.0% in the 1st quarter. Sei Investments Co. now owns 22,011 shares of the bank’s stock valued at $564,000 after buying an additional 12,914 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.