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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, January 22nd. Stockholders of record on Thursday, February 5th will be paid a dividend of 0.25 per share by the bank on Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, February 5th.

Bank of Marin Bancorp has increased its dividend 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. Analysts expect Bank of Marin Bancorp to earn $1.89 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 52.9%.

Bank of Marin Bancorp Stock Performance

BMRC traded up $0.16 during trading on Tuesday, reaching $27.57. The company had a trading volume of 4,447 shares, compared to its average volume of 101,154. The firm’s 50-day simple moving average is $26.81 and its 200 day simple moving average is $25.19. The company has a market cap of $443.60 million, a price-to-earnings ratio of -12.28 and a beta of 0.88. Bank of Marin Bancorp has a 12-month low of $19.14 and a 12-month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 26th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of ($35.47) million during the quarter, compared to analyst estimates of $32.96 million. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. On average, sell-side analysts expect that Bank of Marin Bancorp will post 1.61 EPS for the current year.

Analysts Set New Price Targets

BMRC has been the topic of a number of research analyst reports. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Piper Sandler restated a “neutral” rating and set a $30.50 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Finally, Wall Street Zen lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.10.

Bank of Marin Bancorp Company Profile

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.