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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Thursday, May 9th will be given a dividend of 0.25 per share by the bank on Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date is Wednesday, May 8th.

Bank of Marin Bancorp has raised its dividend by an average of 2.8% annually over the last three years. Bank of Marin Bancorp has a payout ratio of 70.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of Marin Bancorp to earn $1.40 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 71.4%.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC opened at $15.56 on Monday. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The stock has a market capitalization of $253.63 million, a P/E ratio of 18.75 and a beta of 0.88. The company’s 50-day simple moving average is $15.98 and its 200-day simple moving average is $18.25.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. The firm had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, research analysts forecast that Bank of Marin Bancorp will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMRC shares. Stephens lowered their target price on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Bank of Marin Bancorp from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, DA Davidson dropped their target price on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th.

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.