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

Key Points

• Bank of Marin Bancorp's stock price has recently surpassed its 200-day moving average, reaching a high of $22.82 during trading, indicating potential upward momentum.
• Analysts have boosted their price targets for the stock, with a consensus rating of "Moderate Buy" and an average price target of $26.25, reflecting positive growth forecasts.
• The company announced a $25 million stock buyback program and a quarterly dividend of $0.25 per share, signaling confidence from management in the stock's value.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.63 and traded as high as $22.82. Bank of Marin Bancorp shares last traded at $22.82, with a volume of 34,466 shares.

Wall Street Analysts Forecast Growth

BMRC has been the subject of several recent research reports. DA Davidson lifted their price objective on Bank of Marin Bancorp from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Piper Sandler lifted their price objective on Bank of Marin Bancorp from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Stephens reissued an "overweight" rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of Marin Bancorp from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.25.

Bank of Marin Bancorp Trading Up 0.6%

The firm has a market cap of $367.86 million, a PE ratio of 53.07 and a beta of 0.89. The stock has a fifty day simple moving average of $23.45 and a two-hundred day simple moving average of $22.63.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last posted its 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). The company had revenue of $10.29 million for the quarter, compared to analysts' expectations of $29.07 million. Bank of Marin Bancorp had a net margin of 4.43% and a return on equity of 4.60%. As a group, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, August 7th. Bank of Marin Bancorp's payout ratio is presently 232.56%.

Bank of Marin Bancorp declared that its Board of Directors has approved a stock buyback program on Monday, July 28th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the bank to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in shares of Bank of Marin Bancorp by 157.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank's stock worth $26,000 after purchasing an additional 663 shares in the last quarter. Tower Research Capital LLC TRC grew 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 worth $43,000 after purchasing an additional 1,040 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Bank of Marin Bancorp by 100.0% during 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. CWM LLC grew its holdings 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. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Bank of Marin Bancorp during the second quarter worth about $69,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

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.

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