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

Bank of Marin Bancorp (NASDAQ:BMRC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.96 and traded as high as $24.50. Bank of Marin Bancorp shares last traded at $23.52, with a volume of 39,699 shares trading hands.

Analyst Upgrades and Downgrades

BMRC has been the topic of a number of recent research reports. Stephens upgraded shares of Bank of Marin Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price target on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th.

Bank of Marin Bancorp Stock Down 1.5 %

The stock has a market cap of $378.27 million, a PE ratio of -27.35 and a beta of 0.93. The stock’s fifty day moving average price is $24.40 and its 200 day moving average price is $21.00.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $27.30 million. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts expect that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -116.28%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC purchased a new stake in Bank of Marin Bancorp during the second quarter valued at $426,000. AQR Capital Management LLC purchased a new stake in shares of Bank of Marin Bancorp during the 2nd quarter valued at about $709,000. Acadian Asset Management LLC increased its position in shares of Bank of Marin Bancorp by 104.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,622 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 50,874 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bank of Marin Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 716,201 shares of the bank’s stock worth $11,595,000 after purchasing an additional 33,280 shares during the period. Finally, State Street Corp boosted its holdings in shares of Bank of Marin Bancorp by 0.9% in the third quarter. State Street Corp now owns 363,110 shares of the bank’s stock worth $7,295,000 after buying an additional 3,073 shares during the last quarter. 52.26% of the stock is owned by 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.