Bank of Marin Bancorp (BMRC) To Go Ex-Dividend on February 6th

Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be paid a dividend of 0.25 per share by the bank on Thursday, February 13th. This represents a $1.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, February 6th.

Bank of Marin Bancorp has raised its dividend payment by an average of 2.1% per year over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Marin Bancorp to earn $1.53 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 65.4%.

Bank of Marin Bancorp Price Performance

Shares of NASDAQ BMRC opened at $24.99 on Thursday. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $27.11. The company’s 50-day moving average is $24.24 and its 200 day moving average is $22.22. The stock has a market capitalization of $401.91 million, a P/E ratio of -29.06 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same quarter in the previous year, the company earned $0.04 EPS. Research analysts anticipate that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BMRC shares. Stephens restated an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, October 10th.

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.