Bank of Marin Bancorp Announces Quarterly Dividend of $0.25 (NASDAQ:BMRC)

Key Points

• Bank of Marin Bancorp has declared a quarterly dividend of $0.25 per share, which equates to an annualized dividend of $1.00 and a yield of 4.28% for shareholders on record by August 7th.
• The bank missed analysts' expectations with $0.29 earnings per share reported for the last quarter, falling short of the $0.36 consensus estimate.
• Analysts have set a consensus rating of "Moderate Buy" for Bank of Marin Bancorp with an average target price of $25.50, indicating potential upside for the stock.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Thursday, August 7th will be given a dividend of 0.25 per share by the bank on Thursday, August 14th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, August 7th.

Bank of Marin Bancorp has a dividend payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings. 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 Up 0.2%

NASDAQ:BMRC traded up $0.04 during mid-day trading on Thursday, reaching $22.74. The company's stock had a trading volume of 81,600 shares, compared to its average volume of 84,884. The stock has a market cap of $368.67 million, a P/E ratio of 52.84 and a beta of 0.86. The firm's fifty day moving average price is $23.13 and its two-hundred day moving average price is $22.78. Bank of Marin Bancorp has a 12-month low of $16.97 and a 12-month high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its earnings results on Monday, July 28th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07). The company had revenue of $10.29 million for the quarter, compared to analysts' expectations of $29.07 million. Bank of Marin Bancorp had a net margin of 4.43% and a return on equity of 4.60%. Analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target 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 restated an "overweight" rating and issued a $26.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, April 29th. 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 research report on Wednesday, July 2nd. Finally, DA Davidson boosted their price target on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.25.

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.