Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 781,000 shares, a growth of 6.4% from the June 15th total of 734,200 shares. Based on an average trading volume of 74,600 shares, the days-to-cover ratio is presently 10.5 days.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on BMRC shares. Stephens restated an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $21.00 target price on shares of Bank of Marin Bancorp in a report on Friday, June 28th. Finally, DA Davidson lowered their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th.
Check Out Our Latest Research Report on Bank of Marin Bancorp
Institutional Inflows and Outflows
Bank of Marin Bancorp Stock Up 0.8 %
Shares of BMRC stock opened at $21.33 on Thursday. The company has a market cap of $347.47 million, a P/E ratio of 25.70 and a beta of 0.93. The business has a 50 day moving average of $16.00 and a two-hundred day moving average of $16.95. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24.
Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The company had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same quarter in the previous year, the company earned $0.59 earnings per share. Analysts expect that Bank of Marin Bancorp will post 0.93 EPS for the current fiscal year.
Bank of Marin Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.69%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.
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