Bank of Marin Bancorp (NASDAQ:BMRC) to Issue Dividend Increase – $0.29 Per Share
Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Monday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 4th will be paid a dividend of 0.29 per share by the bank on Friday, August 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Wednesday, August 2nd. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.27.
Bank of Marin Bancorp (NASDAQ BMRC) opened at 63.90 on Tuesday. The stock has a market cap of $389.28 million, a P/E ratio of 17.80 and a beta of 0.88. Bank of Marin Bancorp has a 12 month low of $48.50 and a 12 month high of $75.05. The stock has a 50 day moving average of $62.89 and a 200-day moving average of $65.36.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. Bank of Marin Bancorp had a net margin of 26.43% and a return on equity of 9.54%. On average, equities analysts forecast that Bank of Marin Bancorp will post $3.22 EPS for the current fiscal year.
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A number of analysts recently weighed in on BMRC shares. Zacks Investment Research lowered shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies dropped their price target on shares of Bank of Marin Bancorp from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price target on shares of Bank of Marin Bancorp in a research note on Wednesday, June 28th. Finally, BidaskClub upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $71.00.
About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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