Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Bank of Marin Bancorp shares crossed above their 200-day moving average, reaching $28.42 before closing at $28.16, compared with a 200-day average of $26.60.
• Analyst sentiment remains cautious: two analysts rate BMRC a Buy and five rate it a Hold, producing an average rating of Hold and a consensus price target of $31.50.
• The bank exceeded quarterly earnings expectations, reporting $0.58 per share versus the $0.52 consensus estimate, and maintains a quarterly dividend of $0.25 per share, equivalent to a 3.6% annual yield.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.60 and traded as high as $28.42. Bank of Marin Bancorp shares last traded at $28.16, with a volume of 132,513 shares.

Analyst Upgrades and Downgrades

BMRC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Piper Sandler reissued a "neutral" rating and issued a $30.00 price target (up from $28.00) on shares of Bank of Marin Bancorp in a research report on Friday, July 31st. Brean Capital downgraded Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 28th. Stephens set a $30.00 price objective on Bank of Marin Bancorp and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Finally, Zacks Research raised Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.50.

Bank of Marin Bancorp Trading Down 0.5%

The stock's 50 day moving average is $27.93 and its 200-day moving average is $26.60. The company has a market cap of $456.02 million, a P/E ratio of -30.94 and a beta of 0.79. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. The business had revenue of $33.95 million during the quarter, compared to analyst estimates of $34.02 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. Research analysts anticipate that Bank of Marin Bancorp will post 2.31 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Bank of Marin Bancorp's dividend payout ratio (DPR) is -109.89%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in Bank of Marin Bancorp during the 4th quarter valued at $31,000. Russell Investments Group Ltd. raised its stake in shares of Bank of Marin Bancorp by 2,543.8% in the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank's stock worth $31,000 after purchasing an additional 1,221 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after purchasing an additional 379 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Bank of Marin Bancorp in the second quarter worth $43,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 1,040 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Marin Bancorp

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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