Bank of Marin Bancorp (NASDAQ:BMRC) Declares $0.25 Quarterly Dividend

Bank of Marin Bancorp (NASDAQ:BMRC) announced 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 yield of 4.00%. The ex-dividend date of this dividend is Thursday, February 6th.

Bank of Marin Bancorp has raised its dividend by an average of 2.1% annually over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 54.1% indicating that 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 Bank of Marin Bancorp stock opened at $24.99 on Thursday. The company’s fifty day simple moving average is $24.24 and its 200-day simple moving average is $22.22. The stock has a market capitalization of $401.91 million, a PE ratio of -29.06 and a beta of 0.93. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping 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 firm posted $0.04 EPS. As a group, research analysts anticipate that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Wednesday. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 10th. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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 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.