Bank of Marin Bancorp (NASDAQ:BMRC) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Bank of Marin Bancorp's stock price recently surged above its 200-day moving average of $22.58, reaching a high of $24.50.
• Analysts have varying views on the stock, with target prices ranging from $25.00 to $27.00, and a consensus average rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.25, with a significant dividend payout ratio of 232.56%, indicating a robust return to shareholders.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.58 and traded as high as $24.50. Bank of Marin Bancorp shares last traded at $24.39, with a volume of 49,148 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Bank of Marin Bancorp from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Marin Bancorp from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, DA Davidson boosted their price objective on shares of Bank of Marin Bancorp from $24.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.25.

Bank of Marin Bancorp Price Performance

The stock's 50 day simple moving average is $23.80 and its two-hundred day simple moving average is $22.57. The stock has a market cap of $395.58 million, a P/E ratio of 57.07 and a beta of 0.91.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last announced its quarterly 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). Bank of Marin Bancorp had a net margin of 4.43% and a return on equity of 4.60%. The company had revenue of $10.29 million during the quarter, compared to the consensus estimate of $29.07 million. As a group, analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. Bank of Marin Bancorp's payout ratio is presently 232.56%.

Bank of Marin Bancorp declared that its Board of Directors has authorized a share buyback plan on Monday, July 28th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Institutional Trading of Bank of Marin Bancorp

Institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC lifted its position in shares of Bank of Marin Bancorp by 100.0% in the first 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Bank of Marin Bancorp by 6,382.6% in the first quarter. GAMMA Investing LLC now owns 13,419 shares of the bank's stock worth $296,000 after purchasing an additional 13,212 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Bank of Marin Bancorp in the first quarter worth $392,000. Stephens Inc. AR bought a new stake in shares of Bank of Marin Bancorp in the first quarter worth $250,000. Finally, Bank of America Corp DE lifted its position in shares of Bank of Marin Bancorp by 26.8% in the fourth quarter. Bank of America Corp DE now owns 44,569 shares of the bank's stock worth $1,059,000 after purchasing an additional 9,427 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

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.