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

Bank of Marin Bancorp (NASDAQ:BMRC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.34 and traded as high as $28.04. Bank of Marin Bancorp shares last traded at $27.29, with a volume of 136,142 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on BMRC. Wall Street Zen lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Bank of Marin Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $30.10.

Bank of Marin Bancorp Trading Up 0.1%

The firm’s fifty day simple moving average is $26.86 and its two-hundred day simple moving average is $25.34. The company has a market capitalization of $439.10 million, a price-to-earnings ratio of -12.13 and a beta of 0.88.

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

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Marin Bancorp’s dividend payout ratio is currently -44.44%.

Institutional Trading of Bank of Marin Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Torren Management LLC purchased a new position in Bank of Marin Bancorp during the fourth quarter worth about $31,000. Russell Investments Group Ltd. boosted its position in shares of Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares during the period. Tower Research Capital LLC TRC increased its holdings in Bank of Marin Bancorp by 124.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,040 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after purchasing an additional 1,356 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Bank of Marin Bancorp during the second quarter worth $70,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.