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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.25 per share by the bank on Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has increased its dividend by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Bank of Marin Bancorp has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Marin Bancorp to earn $1.49 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 67.1%.

Bank of Marin Bancorp Trading Down 0.6 %

BMRC stock opened at $22.01 on Tuesday. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.35. The business’s 50 day simple moving average is $20.99 and its 200 day simple moving average is $18.41. The firm has a market capitalization of $358.32 million, a PE ratio of -25.59 and a beta of 0.90.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. The firm had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, sell-side analysts predict that Bank of Marin Bancorp will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised 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 report on Thursday, October 10th.

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.