Bank of Marin Bancorp (NASDAQ:BMRC) Shares Gap Down to $32.60

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $32.60, but opened at $31.84. Bank of Marin Bancorp shares last traded at $31.84, with a volume of 3 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMRC. TheStreet raised shares of Bank of Marin Bancorp from a “c+” rating to a “b” rating in a report on Friday, October 28th. StockNews.com began coverage on shares of Bank of Marin Bancorp in a report on Wednesday, October 12th. They set a “hold” rating for the company. DA Davidson boosted their price objective on shares of Bank of Marin Bancorp to $34.00 in a report on Thursday, October 27th. Piper Sandler decreased their price objective on shares of Bank of Marin Bancorp to $33.00 in a report on Friday, September 30th. Finally, Stephens boosted their price objective on shares of Bank of Marin Bancorp from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, October 25th.

Bank of Marin Bancorp Price Performance

The firm’s 50-day moving average is $33.72 and its 200-day moving average is $32.68. The company has a market capitalization of $527.03 million, a P/E ratio of 12.09 and a beta of 0.76.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last announced its earnings results on Monday, October 24th. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $35.75 million during the quarter, compared to analyst estimates of $35.40 million. Bank of Marin Bancorp had a net margin of 31.43% and a return on equity of 10.69%. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, analysts forecast that Bank of Marin Bancorp will post 2.95 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.00 annualized dividend and a yield of 3.04%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 36.76%.

Institutional Trading of Bank of Marin Bancorp

Several large investors have recently added to or reduced their stakes in BMRC. Quadrant Capital Group LLC boosted its position in shares of Bank of Marin Bancorp by 7,033.3% in the third quarter. Quadrant Capital Group LLC now owns 1,284 shares of the bank’s stock worth $38,000 after purchasing an additional 1,266 shares during the period. Amalgamated Bank bought a new position in shares of Bank of Marin Bancorp in the first quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its position in shares of Bank of Marin Bancorp by 373.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,599 shares of the bank’s stock worth $78,000 after purchasing an additional 2,050 shares during the period. Captrust Financial Advisors boosted its position in shares of Bank of Marin Bancorp by 54.9% in the first quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock worth $111,000 after purchasing an additional 1,124 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Bank of Marin Bancorp in the second quarter worth approximately $138,000. 48.88% of the stock is currently owned by institutional investors.

Bank of Marin Bancorp Company Profile

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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, professionals, not-for-profit organizations, and individuals in California, the United States. It 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.