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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.25 per share by the bank on Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has increased its dividend by an average of 2.8% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. Bank of Marin Bancorp has a payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $1.49 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 67.1%.

Bank of Marin Bancorp Price Performance

Shares of BMRC stock opened at $22.49 on Wednesday. The firm has a 50-day moving average of $21.03 and a 200-day moving average of $18.46. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $23.35. The company has a market cap of $366.05 million, a P/E ratio of -26.15 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. During the same quarter last year, the business posted $0.33 EPS. As a group, research analysts expect that Bank of Marin Bancorp will post 0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMRC shares. DA Davidson upgraded 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. Keefe, Bruyette & Woods lifted their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.