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

Key Points

• Bank of Marin Bancorp shares crossed above their 200-day moving average, reaching $27.56 before closing around $27.25, although the stock was down 0.8% and remained below its 50-day average of $27.94.
• Analyst sentiment remains cautious: two analysts rate BMRC a Buy and five rate it Hold, producing a consensus Hold rating and an average price target of $31.50.
• The bank exceeded quarterly earnings expectations with EPS of $0.58 versus $0.52 expected and maintains a quarterly dividend of $0.25 per share, equivalent to a 3.7% annualized yield.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $26.85 and traded as high as $27.56. Bank of Marin Bancorp shares last traded at $27.25, with a volume of 124,443 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BMRC shares. Weiss Ratings restated a "hold (c-)" rating on shares of Bank of Marin Bancorp in a research note on Friday. Piper Sandler reiterated a "neutral" rating and set a $30.00 price target (up from $28.00) on shares of Bank of Marin Bancorp in a research report on Friday, July 31st. DA Davidson set a $34.00 price objective on Bank of Marin Bancorp and gave the company a "buy" rating in a report on Tuesday, July 28th. Zacks Research upgraded Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Brean Capital downgraded Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 target price for the company. in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Bank of Marin Bancorp has a consensus rating of "Hold" and a consensus target price of $31.50.

Bank of Marin Bancorp Trading Down 0.8%

The company has a 50 day moving average of $27.94 and a 200-day moving average of $26.85. The stock has a market cap of $441.29 million, a price-to-earnings ratio of -29.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) last released its earnings results on Monday, July 27th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $33.95 million during the quarter, compared to the consensus estimate 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%. On average, research analysts anticipate that Bank of Marin Bancorp will post 2.28 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Bank of Marin Bancorp's dividend payout ratio is -109.89%.

Institutional Trading of Bank of Marin Bancorp

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its holdings in Bank of Marin Bancorp by 109.8% in the second quarter. Squarepoint Ops LLC now owns 32,763 shares of the bank's stock valued at $908,000 after purchasing an additional 17,143 shares during the period. United Capital Financial Advisors LLC acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $960,000. Bank of America Corp DE acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $678,000. Legal & General Group Plc purchased a new position in shares of Bank of Marin Bancorp in the 2nd quarter valued at about $43,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Bank of Marin Bancorp during the second quarter worth about $12,642,000. Hedge funds and other 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-focused financial institution serving businesses, professionals, nonprofit organizations and individuals in Northern California. The bank provides relationship-based banking through branches and digital channels, with an emphasis on local decision-making and personalized service.

Its products and services include commercial and small-business lending, commercial real estate loans, residential real estate financing, consumer loans, deposit accounts, cash-management services and online and mobile banking.

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