Bank of Marin Bancorp (NASDAQ:BMRC) Shares Pass Above Two Hundred 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 Friday . The stock has a two hundred day moving average of $21.55 and traded as high as $22.90. Bank of Marin Bancorp shares last traded at $22.31, with a volume of 108,990 shares.

Wall Street Analysts Forecast Growth

BMRC has been the subject of several research analyst reports. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, October 10th. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upped their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Bank of Marin Bancorp Stock Down 3.3 %

The firm’s 50 day moving average is $24.64 and its two-hundred day moving average is $21.60. The stock has a market cap of $358.81 million, a price-to-earnings ratio of -25.94 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period in the prior year, the company earned $0.33 earnings per share. On average, analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s payout ratio is -116.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock valued at $405,000 after purchasing an additional 656 shares during the period. Empowered Funds LLC increased its stake in Bank of Marin Bancorp by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 22,644 shares of the bank’s stock valued at $455,000 after buying an additional 1,072 shares during the period. Hsbc Holdings PLC raised its position in shares of Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after buying an additional 2,131 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Bank of Marin Bancorp by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,662 shares of the bank’s stock worth $315,000 after acquiring an additional 2,469 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Bank of Marin Bancorp by 23.3% in the second quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock valued at $231,000 after acquiring an additional 2,700 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

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.