Bank of Marin Bancorp (BMRC) to Issue Quarterly Dividend of $0.29
Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Friday, November 3rd will be paid a dividend of 0.29 per share by the bank on Friday, November 10th. This represents a $1.16 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, November 2nd.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded down 0.78% on Tuesday, reaching $70.30. The company’s stock had a trading volume of 20,559 shares. The company’s 50 day moving average is $67.56 and its 200-day moving average is $64.75. Bank of Marin Bancorp has a 1-year low of $49.50 and a 1-year high of $75.05. The firm has a market cap of $429.53 million, a price-to-earnings ratio of 19.33 and a beta of 0.88.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced 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. The company had revenue of $20.40 million for the quarter, compared to analyst estimates of $20.33 million. Bank of Marin Bancorp had a return on equity of 9.55% and a net margin of 26.72%. Equities research analysts expect that Bank of Marin Bancorp will post $3.27 EPS for the current year.
A number of brokerages have recently weighed in on BMRC. DA Davidson reiterated a “hold” rating and set a $72.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday. Zacks Investment Research lowered Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Piper Jaffray Companies set a $68.00 target price on Bank of Marin Bancorp and gave the stock a “hold” rating in a research note on Sunday, July 30th. BidaskClub lowered Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 target price on shares of Bank of Marin Bancorp in a research note on Wednesday, June 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.40.
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Bank of Marin Bancorp Company Profile
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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