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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 6th will be paid a dividend of 0.25 per share by the bank on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, August 6th.

Bank of Marin Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years. Bank of Marin Bancorp has a payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Marin Bancorp to earn $2.50 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 40.0%.

Bank of Marin Bancorp Stock Performance

Shares of BMRC stock opened at $29.30 on Tuesday. The firm has a market capitalization of $474.37 million, a price-to-earnings ratio of -32.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average of $27.37 and a 200 day moving average of $26.48. Bank of Marin Bancorp has a 1 year low of $21.77 and a 1 year high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly 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. Bank of Marin Bancorp had a positive return on equity of 8.44% and a negative net margin of 7.98%.The business had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million. As a group, research analysts expect that Bank of Marin Bancorp will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMRC shares. Weiss Ratings raised shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods lowered their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. DA Davidson set a $34.00 price target on Bank of Marin Bancorp and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $30.00 price objective (up from $28.00) on shares of Bank of Marin Bancorp in a report on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.00.

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.