Insider Selling: Russell A. Colombo Sells 11,859 Shares of Bank of Marin Bancorp Stock (BMRC)
Bank of Marin Bancorp (NASDAQ:BMRC) CEO Russell A. Colombo sold 11,859 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $44.13, for a total value of $523,337.67. Following the sale, the chief executive officer now directly owns 16,074 shares in the company, valued at approximately $709,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up 3.47% on Friday, hitting $43.48. 40,458 shares of the company’s stock traded hands. Bank of Marin Bancorp has a one year low of $36.89 and a one year high of $46.21. The stock’s 50-day moving average is $43.81 and its 200-day moving average is $42.62. The company has a market cap of $242.8 million and a price-to-earnings ratio of 16.35.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.67 by $0.26. During the same quarter in the prior year, the company posted $0.86 earnings per share. Analysts expect that Bank of Marin Bancorp will post $3.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Friday, February 7th will be given a dividend of 0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, February 5th.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Bank of Marin Bancorp from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, January 29th. They now have a $47.00 price target on the stock. Separately, analysts at Sandler O’Neill raised their price target on shares of Bank of Marin Bancorp from $2.00 to $47.00 in a research note to investors on Tuesday, January 28th. Finally, analysts at FIG Partners upgraded shares of Bank of Marin Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, January 28th. They now have a $50.00 price target on the stock, up previously from $45.00. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.83.
Bank of Marin Bancorp (NASDAQ:BMRC) is the holding company for Bank of Marin (the Bank).
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