Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.55 and traded as high as $22.90. Bank of Marin Bancorp shares last traded at $22.31, with a volume of 108,990 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on BMRC. Stephens restated an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. DA Davidson raised 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, 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 report on Wednesday, December 4th.

Bank of Marin Bancorp Price Performance

The stock has a market cap of $358.81 million, a P/E ratio of -25.94 and a beta of 0.93. The company has a fifty day moving average of $24.64 and a 200 day moving average of $21.55.

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

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. Bank of Marin Bancorp’s dividend payout ratio is currently -116.28%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Bank of Marin Bancorp during the 3rd quarter worth approximately $74,000. SG Americas Securities LLC purchased a new position in Bank of Marin Bancorp during the 3rd quarter worth approximately $122,000. XTX Topco Ltd purchased a new position in Bank of Marin Bancorp during the 2nd quarter worth approximately $168,000. Hsbc Holdings PLC grew its position in Bank of Marin Bancorp by 21.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,254 shares of the bank’s stock worth $199,000 after purchasing an additional 2,131 shares in the last quarter. Finally, Sei Investments Co. grew its position in Bank of Marin Bancorp by 23.3% during the 2nd quarter. Sei Investments Co. now owns 14,275 shares of the bank’s stock worth $231,000 after purchasing an additional 2,700 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

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.