Bank of Marin Bancorp (NASDAQ:BMRC) Shares Cross Above 200-Day Moving Average – Should You Sell?

Bank of Marin Bancorp (NASDAQ:BMRC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.60 and traded as high as $27.21. Bank of Marin Bancorp shares last traded at $25.83, with a volume of 98,787 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMRC. Stephens reissued an “overweight” rating and set a $29.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a research note on Wednesday, October 29th. Finally, Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.10.

Bank of Marin Bancorp Stock Down 5.0%

The stock has a fifty day simple moving average of $26.81 and a 200 day simple moving average of $25.60. The firm has a market capitalization of $415.60 million, a P/E ratio of -11.48 and a beta of 0.88.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The firm had revenue of ($35.47) million during the quarter, compared to analysts’ expectations of $32.96 million. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%. Research analysts anticipate that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently -44.44%.

Hedge Funds Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Torren Management LLC bought a new stake in Bank of Marin Bancorp in the 4th quarter valued at $31,000. Russell Investments Group Ltd. grew its position 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 in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Bank of Marin Bancorp by 33.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after buying an additional 1,356 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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.