Bank of Marin Bancorp (NASDAQ:BMRC) Shareholders to Collect $0.25 Quarterly Dividend

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, November 5th will be given a dividend of $0.25 per share by the bank on Thursday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, November 5th.

Bank of Marin Bancorp has a payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $2.46 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 40.7%.

Bank of Marin Bancorp Stock Up 3.0%

Bank of Marin Bancorp stock opened at $29.21 on Tuesday. Bank of Marin Bancorp has a one year low of $23.35 and a one year high of $30.92. The stock has a fifty day moving average of $27.39 and a 200 day moving average of $26.82. 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 stock has a market cap of $472.91 million, a PE ratio of 12.45 and a beta of 0.82.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $35.07 million for the quarter, compared to analysts’ expectations of $35.11 million. Bank of Marin Bancorp had a positive return on equity of 9.38% and a negative net margin of 6.48%. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 2.33 EPS for the current year.

Analysts Set New Price Targets

BMRC has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Bank of Marin Bancorp in a research report on Friday, September 25th. Stephens upped their target price on shares of Bank of Marin Bancorp from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 target price (down from $30.00) on shares of Bank of Marin Bancorp in a report on Thursday, October 1st. Finally, Brean Capital downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.20.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.