Bank of Marin Bancorp (NASDAQ:BMRC) Declares $0.25 Quarterly Dividend

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.25 per share by the bank on Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has raised its dividend by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Bank of Marin Bancorp has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $1.49 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 67.1%.

Bank of Marin Bancorp Price Performance

BMRC traded up $0.05 during trading on Tuesday, hitting $22.06. 626 shares of the stock traded hands, compared to its average volume of 76,723. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.35. The company has a market cap of $359.14 million, a price-to-earnings ratio of -25.59 and a beta of 0.90. The business has a 50 day moving average price of $20.99 and a 200 day moving average price of $18.41.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts predict that Bank of Marin Bancorp will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BMRC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 10th.

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.