Bank of Marin Bancorp (BMRC) To Go Ex-Dividend on February 6th

Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Thursday, February 6th will be given a dividend of 0.25 per share by the bank on Thursday, February 13th. This represents a $1.00 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, February 6th.

Bank of Marin Bancorp has increased its dividend by an average of 2.1% annually over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 2.5 %

BMRC opened at $24.65 on Tuesday. The business has a fifty day moving average of $24.20 and a 200 day moving average of $22.31. The stock has a market cap of $396.37 million, a P/E ratio of -47.40 and a beta of 0.94. Bank of Marin Bancorp has a 52-week low of $14.11 and a 52-week high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, beating 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 firm posted $0.04 EPS. Equities analysts anticipate that Bank of Marin Bancorp will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price 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. Stephens reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday, January 29th. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, October 10th. Finally, StockNews.com raised Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Friday.

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.