Bank of Marin Bancorp (NASDAQ:BMRC) Stock Passes Above 200 Day Moving Average – Should You Sell?

Bank of Marin Bancorp (NASDAQ:BMRC) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.13 and traded as high as $26.76. Bank of Marin Bancorp shares last traded at $26.54, with a volume of 197,542 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. DA Davidson reduced their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Zacks Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.40.

Bank of Marin Bancorp Stock Up 0.5%

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $25.93 and its 200-day moving average price is $26.13. The company has a market cap of $429.68 million, a P/E ratio of -13.14 and a beta of 0.82.

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

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is -49.50%.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of BMRC. HoldCo Asset Management LP grew its position in Bank of Marin Bancorp by 23.8% in the 3rd quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after purchasing an additional 97,000 shares during the period. Westmount Partners LLC acquired a new position in Bank of Marin Bancorp during the fourth quarter worth $2,980,000. Bank of Marin raised its holdings in Bank of Marin Bancorp by 364.7% during the fourth quarter. Bank of Marin now owns 104,046 shares of the bank’s stock worth $2,706,000 after buying an additional 81,656 shares during the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Bank of Marin Bancorp in the third quarter valued at $253,000. Finally, MAI Capital Management lifted its stake in shares of Bank of Marin Bancorp by 23.9% in the third quarter. MAI Capital Management now owns 7,440 shares of the bank’s stock valued at $181,000 after buying an additional 1,435 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

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.