Bank of Marin Bancorp (NASDAQ:BMRC) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.12 and traded as high as $24.71. Bank of Marin Bancorp shares last traded at $23.41, with a volume of 57,393 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMRC shares. Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods raised 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. Finally, StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

Bank of Marin Bancorp Stock Down 0.5 %

The company has a market capitalization of $374.57 million, a price-to-earnings ratio of -44.79 and a beta of 0.91. The stock’s 50-day moving average price is $24.16 and its 200-day moving average price is $23.15.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.33% and a negative net margin of 5.52%. During the same quarter in the prior year, the business posted $0.04 EPS. On average, equities research analysts anticipate that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.29%. Bank of Marin Bancorp’s payout ratio is -192.31%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of Bank of Marin Bancorp by 157.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,084 shares of the bank’s stock valued at $26,000 after acquiring an additional 663 shares during the last quarter. Quantbot Technologies LP bought a new position in Bank of Marin Bancorp during the third quarter worth about $74,000. SG Americas Securities LLC grew its position in shares of Bank of Marin Bancorp by 7.1% during the 4th quarter. SG Americas Securities LLC now owns 6,509 shares of the bank’s stock worth $155,000 after buying an additional 430 shares during the period. Wulff Hansen & CO. bought a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at about $200,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at about $200,000. Institutional investors own 52.26% of the company’s stock.

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.