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

Bank of Marin Bancorp (NASDAQ:BMRC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $23.12 and traded as high as $24.71. Bank of Marin Bancorp shares last traded at $23.41, with a volume of 57,393 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BMRC. Stephens reissued an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, January 29th. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Bank of Marin Bancorp Stock Down 2.3 %

The stock’s 50-day moving average is $24.16 and its 200-day moving average is $23.12. The firm has a market cap of $376.50 million, a P/E ratio of -45.02 and a beta of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 5.52% and a positive return on equity of 3.33%. During the same quarter last year, the company earned $0.04 EPS. As a group, analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date was Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -192.31%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 valued at $19,638,000 after buying an additional 9,770 shares during the period. Alliancebernstein L.P. increased its holdings in Bank of Marin Bancorp by 6.3% in the 4th quarter. Alliancebernstein L.P. now owns 655,514 shares of the bank’s stock valued at $15,582,000 after buying an additional 38,934 shares during the period. North Reef Capital Management LP increased its holdings in Bank of Marin Bancorp by 45.8% in the 4th quarter. North Reef Capital Management LP now owns 470,956 shares of the bank’s stock valued at $11,195,000 after buying an additional 148,020 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Bank of Marin Bancorp by 0.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 467,373 shares of the bank’s stock valued at $11,109,000 after buying an additional 4,101 shares during the period. Finally, State Street Corp increased its holdings in Bank of Marin Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 363,110 shares of the bank’s stock valued at $7,295,000 after buying an additional 3,073 shares during the period. Institutional investors own 52.26% of the company’s stock.

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.