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

Key Points

• Bank of Marin Bancorp shares crossed above their 200-day moving average of $27.04, reaching $27.19 before closing at $26.71.
• Analysts maintain a cautious outlook: the stock has an average rating of “Hold” and an average price target of $31.33, with two Buy ratings and five Hold ratings.
• The bank exceeded quarterly EPS estimates, reporting $0.58 versus the expected $0.52, and pays a quarterly dividend of $0.25 per share, equivalent to a 3.7% yield.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $27.04 and traded as high as $27.19. Bank of Marin Bancorp shares last traded at $26.71, with a volume of 142,469 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on BMRC shares. Stephens set a $30.00 price target on Bank of Marin Bancorp and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and set a $29.00 price objective (down from $30.00) on shares of Bank of Marin Bancorp in a research report on Thursday, October 1st. DA Davidson set a $34.00 price objective on Bank of Marin Bancorp and gave the company a "buy" rating in a research report on Tuesday, July 28th. Brean Capital downgraded Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 price objective for the company. in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.33.

Bank of Marin Bancorp Price Performance

The company has a market cap of $432.43 million, a P/E ratio of -29.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72. The firm's fifty day moving average is $27.61 and its two-hundred day moving average is $27.04.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping 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 positive return on equity of 8.51% and a negative net margin of 7.98%. As a group, analysts anticipate that Bank of Marin Bancorp will post 2.28 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The firm also recently announced 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 was Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. Bank of Marin Bancorp's dividend payout ratio (DPR) is currently -109.89%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Bank of Marin Bancorp in the 2nd quarter worth approximately $44,326,000. Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 802,865 shares of the bank's stock worth $20,577,000 after purchasing an additional 32,048 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Bank of Marin Bancorp by 1.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank's stock valued at $11,759,000 after buying an additional 8,758 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in Bank of Marin Bancorp during the 2nd quarter valued at approximately $9,017,000. Finally, Algebris UK Ltd. purchased a new stake in Bank of Marin Bancorp during the 2nd quarter valued at approximately $8,092,000. Institutional investors own 52.26% of the company's stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is a bank holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals and businesses through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, business loans, lines of credit, construction financing and consumer loans. Bank of Marin also offers cash-management services, treasury management, online and mobile banking, and wealth management services through its affiliated or partnered offerings.

Founded in 1990, Bank of Marin has historically focused on relationship-based banking for customers in the North Bay and surrounding Northern California communities, including Marin, Napa and Sonoma counties and parts of the greater San Francisco Bay Area.

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