Bank of Marin Bancorp (NASDAQ:BMRC) Shares Pass Above 200 Day Moving Average - Here's Why

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s share price 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.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Piper Sandler upped their price objective on Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Stephens reiterated an "overweight" rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

Bank of Marin Bancorp Stock Performance

The company has a market capitalization of $413.69 million, a P/E ratio of -63.76 and a beta of 0.86. The firm has a 50 day moving average price of $22.24 and a two-hundred day moving average price of $22.68.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). The business had revenue of $35.24 million for the quarter, compared to the consensus estimate 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, equities analysts expect that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.92%. Bank of Marin Bancorp's dividend payout ratio (DPR) is presently -250.00%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently bought and sold shares of BMRC. Tower Research Capital LLC TRC grew its position 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 during the last quarter. Golden State Wealth Management LLC grew its position in 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 acquiring an additional 1,000 shares during the last quarter. CWM LLC grew its position in Bank of Marin Bancorp by 29.7% during the 1st quarter. CWM LLC now owns 2,753 shares of the bank's stock worth $61,000 after acquiring an additional 630 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Bank of Marin Bancorp by 4,337.9% in the 1st 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. bought a new position in Bank of Marin Bancorp in the 4th quarter valued at $200,000. 52.26% of the stock is currently owned by 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.