Bank of Marin Bancorp (BMRC) Hits New 52-Week High and Low at $79.10

Bank of Marin Bancorp (NASDAQ:BMRC) shares reached a new 52-week high and low on Thursday . The stock traded as low as $79.10 and last traded at $79.55, with a volume of 501 shares. The stock had previously closed at $77.80.

Several research analysts have weighed in on BMRC shares. BidaskClub upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. DA Davidson upped their price objective on shares of Bank of Marin Bancorp to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, April 24th. Finally, Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Bank of Marin Bancorp presently has a consensus rating of “Hold” and an average target price of $76.25.

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $553.48 million, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.74 and a beta of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, April 23rd. The bank reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). Bank of Marin Bancorp had a return on equity of 8.30% and a net margin of 19.93%. The business had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.27 million. equities research analysts forecast that Bank of Marin Bancorp will post 4.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, May 4th were issued a $0.31 dividend. The ex-dividend date was Thursday, May 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.29. Bank of Marin Bancorp’s dividend payout ratio is currently 37.80%.

Several hedge funds have recently made changes to their positions in BMRC. The Manufacturers Life Insurance Company raised its holdings in shares of Bank of Marin Bancorp by 27.6% in the first quarter. The Manufacturers Life Insurance Company now owns 313,046 shares of the bank’s stock valued at $21,584,000 after purchasing an additional 67,769 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Bank of Marin Bancorp by 12.3% in the fourth quarter. BlackRock Inc. now owns 525,495 shares of the bank’s stock valued at $35,733,000 after purchasing an additional 57,520 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Bank of Marin Bancorp by 169.8% in the fourth quarter. Millennium Management LLC now owns 76,962 shares of the bank’s stock valued at $5,233,000 after purchasing an additional 48,436 shares during the last quarter. Banc Funds Co. LLC raised its holdings in shares of Bank of Marin Bancorp by 24.4% in the fourth quarter. Banc Funds Co. LLC now owns 183,304 shares of the bank’s stock valued at $12,465,000 after purchasing an additional 35,939 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Bank of Marin Bancorp by 37.4% in the third quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock valued at $7,660,000 after purchasing an additional 30,461 shares during the last quarter. Institutional investors own 42.01% of the company’s stock.

About Bank of Marin Bancorp

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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