Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.66 and traded as high as $25.93. Bank of Marin Bancorp shares last traded at $25.75, with a volume of 104,935 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMRC. Piper Sandler lifted their price target on 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. Stephens reaffirmed an "overweight" rating and set a $26.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods upped their target price on Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.50.

Bank of Marin Bancorp Stock Up 0.3%

The company has a market cap of $418.96 million, a price-to-earnings ratio of -64.58 and a beta of 0.86. The stock's 50-day simple moving average is $22.14 and its 200 day simple moving average is $22.66.

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

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Thursday, May 8th. Bank of Marin Bancorp's payout ratio is presently -250.00%.

Institutional Trading of Bank of Marin Bancorp

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in Bank of Marin Bancorp by 157.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock worth $26,000 after acquiring an additional 663 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Bank of Marin Bancorp by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,000 shares of the bank's stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC grew its stake in shares of Bank of Marin Bancorp by 29.7% during the first quarter. CWM LLC now owns 2,753 shares of the bank's stock worth $61,000 after purchasing an additional 630 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Bank of Marin Bancorp by 4,337.9% in the first quarter. Jones Financial Companies Lllp now owns 8,432 shares of the bank's stock valued at $186,000 after buying an additional 8,242 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at $200,000. 52.26% of the stock is currently owned by hedge funds and other 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.