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

Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Thursday, August 8th will be paid a dividend of 0.25 per share by the bank on Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Thursday, August 8th.

Bank of Marin Bancorp has raised its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 18 years. Bank of Marin Bancorp has a payout ratio of 70.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of Marin Bancorp to earn $1.35 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 74.1%.

Bank of Marin Bancorp Trading Up 0.9 %

Shares of BMRC stock opened at $18.07 on Wednesday. The company’s 50-day moving average price is $17.25 and its 200-day moving average price is $16.86. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24. The stock has a market cap of $294.36 million, a price-to-earnings ratio of 21.77 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, July 29th. The bank reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.26%. The company had revenue of $37.12 million during the quarter, compared to analyst estimates of $25.85 million. During the same period in the previous year, the company earned $0.28 EPS. As a group, equities research analysts predict that Bank of Marin Bancorp will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMRC. Stephens reaffirmed an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Keefe, Bruyette & Woods upped their target price on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, DA Davidson cut their price target on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th.

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.