Bank of Marin Bancorp (NASDAQ:BMRC) Shares Pass Above 200-Day Moving Average – Should You Sell?

Bank of Marin Bancorp (NASDAQ:BMRC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.96 and traded as high as $24.50. Bank of Marin Bancorp shares last traded at $23.52, with a volume of 39,699 shares.

Analysts Set New Price Targets

BMRC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, October 10th. Finally, Stephens upgraded Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th.

Bank of Marin Bancorp Stock Performance

The company has a market cap of $378.27 million, a PE ratio of -27.35 and a beta of 0.93. The stock’s 50 day moving average price is $24.40 and its 200-day moving average price is $21.00.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period last year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BMRC. Dimensional Fund Advisors LP grew its holdings in Bank of Marin Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after acquiring an additional 33,280 shares during the last quarter. State Street Corp boosted its holdings in shares of Bank of Marin Bancorp by 0.9% during the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after purchasing an additional 3,073 shares during the period. Geode Capital Management LLC grew its stake in shares of Bank of Marin Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 362,376 shares of the bank’s stock worth $7,282,000 after purchasing an additional 6,555 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in Bank of Marin Bancorp during the 3rd quarter valued at about $3,411,000. Finally, Renaissance Technologies LLC raised its position in Bank of Marin Bancorp by 29.5% during the 2nd quarter. Renaissance Technologies LLC now owns 150,192 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 34,200 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

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.