Bank of Marin Bancorp (NASDAQ:BMRC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Bank of Marin Bancorp (NASDAQ:BMRC)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.19 and traded as high as $26.78. Bank of Marin Bancorp shares last traded at $26.25, with a volume of 85,037 shares.

Analysts Set New Price Targets

BMRC has been the topic of several analyst reports. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Stephens reissued an “equal weight” rating and issued a $26.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th. Finally, Piper Sandler dropped their target price on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.40.

Bank of Marin Bancorp Trading Up 0.8%

The firm has a market cap of $424.99 million, a price-to-earnings ratio of -13.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average is $25.73 and its 200-day moving average is $26.19.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, April 27th. The bank reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). The firm had revenue of $34.14 million during the quarter, compared to analyst estimates of $33.87 million. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. Equities analysts anticipate that Bank of Marin Bancorp will post 2.21 earnings per share for the current year.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.00 annualized dividend and a yield of 3.8%. Bank of Marin Bancorp’s payout ratio is presently -49.50%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Institutional investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at about $31,000. Russell Investments Group Ltd. raised its holdings in shares of Bank of Marin Bancorp by 2,543.8% during the third quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,221 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after purchasing an additional 379 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Bank of Marin Bancorp by 124.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,356 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.