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

Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Thursday, February 6th will be given 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 4.07%. The ex-dividend date is Thursday, February 6th.

Bank of Marin Bancorp has raised its dividend by an average of 2.1% per year over the last three years. Bank of Marin Bancorp has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Research 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

BMRC stock opened at $24.58 on Wednesday. The stock has a market capitalization of $395.25 million, a PE ratio of -28.58 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The company has a 50 day moving average price of $24.24 and a 200 day moving average price of $22.22.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Bank of Marin Bancorp had a positive return on equity of 3.05% and a negative net margin of 9.49%. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, equities analysts expect that Bank of Marin Bancorp will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, January 2nd. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their target price on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company 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.