Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Bank of Marin Bancorp shares moved above their 200-day moving average, trading as high as $28.75 and last changing hands at $28.30.
• Analyst sentiment remains cautious overall: the stock has a consensus Hold rating and a consensus target price of $28.40, with recent target cuts from several firms.
• The company recently reported Q1 earnings of $0.53 per share, missing estimates by $0.03, while revenue of $34.14 million slightly topped expectations and the stock continues to offer a 3.5% dividend yield.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.20 and traded as high as $28.75. Bank of Marin Bancorp shares last traded at $28.30, with a volume of 158,835 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMRC shares. Stephens reaffirmed an "equal weight" rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, May 5th. Piper Sandler reduced their target price on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Bank of Marin Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.40.

Bank of Marin Bancorp Stock Performance

The firm has a market cap of $458.18 million, a price-to-earnings ratio of -14.01 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $26.47 and a 200 day moving average of $26.20.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The business had revenue of $34.14 million for the quarter, compared to analyst estimates of $33.87 million. As a group, equities research analysts expect that Bank of Marin Bancorp will post 2.21 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, May 7th. Bank of Marin Bancorp's dividend payout ratio is -49.50%.

Institutional Trading of Bank of Marin Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in Bank of Marin Bancorp in the fourth quarter valued at $31,000. Russell Investments Group Ltd. grew its holdings in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank's stock worth $31,000 after acquiring an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Bank of Marin Bancorp by 33.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank's stock worth $39,000 after acquiring an additional 379 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank's stock worth $43,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank's stock worth $72,000 after purchasing an additional 407 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

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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