Bank of Marin Bancorp (NASDAQ:BMRC) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Price action: Shares of Bank of Marin Bancorp crossed above their 200‑day moving average of $25.82, trading as high as $27.20 and last at $27.09 on volume of 114,582 shares.
• Analyst view: Ratings are mixed (three Buys, two Holds, one Sell) with an average rating of "Hold" and an average price target of $29.60.
• Financials & dividend: The bank reported $0.59 EPS for the latest quarter and analysts expect 1.61 EPS for the year; market cap is about $437M, the reported PE is -12.04 with a negative net margin of 21.76%, and the company pays a $0.25 quarterly dividend (annualized $1.00, ~3.7% yield).

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.82 and traded as high as $27.20. Bank of Marin Bancorp shares last traded at $27.09, with a volume of 114,582 shares changing hands.

Analyst Upgrades and Downgrades

BMRC has been the subject of a number of analyst reports. Zacks Research downgraded shares of Bank of Marin Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Stephens reaffirmed an "overweight" rating and issued a $29.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Piper Sandler lowered their price target on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Bank of Marin Bancorp from a "hold (c+)" rating to a "sell (d+)" rating in a research report on Monday, March 16th. Finally, Wall Street Zen lowered shares of Bank of Marin Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.60.

Bank of Marin Bancorp Trading Up 0.9%

The firm has a market capitalization of $436.96 million, a PE ratio of -12.04 and a beta of 0.84. The stock's 50-day moving average price is $25.80 and its 200 day moving average price is $25.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last issued its earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The business had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.16%. 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 announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Marin Bancorp's dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors have recently bought and sold shares of the business. Torren Management LLC purchased a new position in Bank of Marin Bancorp during the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. increased its holdings in Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank's stock valued at $31,000 after buying an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock valued at $39,000 after buying an additional 379 shares during the period. Tower Research Capital LLC TRC increased its holdings in Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank's stock valued at $43,000 after buying an additional 1,040 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Bank of Marin Bancorp by 17.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank's stock valued at $72,000 after buying an additional 407 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company's core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.

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