Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Bank of Marin Bancorp (NASDAQ:BMRC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.34 and traded as high as $28.04. Bank of Marin Bancorp shares last traded at $27.29, with a volume of 136,142 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMRC. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a report on Monday, December 29th. Stephens reaffirmed an “overweight” rating and issued a $29.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. DA Davidson raised their price objective on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $30.00 price target (up from $27.00) on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $30.10.

Bank of Marin Bancorp Trading Down 0.2%

The stock has a market capitalization of $438.29 million, a price-to-earnings ratio of -12.11 and a beta of 0.88. The company’s 50 day moving average is $26.87 and its 200 day moving average is $25.37.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%.The company had revenue of ($35.47) million for the quarter, compared to analyst estimates of $32.96 million. Analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, February 5th. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BMRC. Wellington Management Group LLP raised its stake in Bank of Marin Bancorp by 268.7% during the 3rd quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock valued at $22,909,000 after acquiring an additional 687,615 shares during the last quarter. HoldCo Asset Management LP purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth $9,305,000. Fourthstone LLC lifted its stake in shares of Bank of Marin Bancorp by 291.7% in the 2nd quarter. Fourthstone LLC now owns 276,578 shares of the bank’s stock worth $6,317,000 after acquiring an additional 205,969 shares during the period. Heartland Advisors Inc. purchased a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at about $5,191,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Bank of Marin Bancorp by 85.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 273,266 shares of the bank’s stock worth $6,635,000 after acquiring an additional 125,816 shares during the period. 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-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.