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

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, February 6th.

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

BMRC traded down $0.76 on Tuesday, reaching $24.58. The company had a trading volume of 113,101 shares, compared to its average volume of 53,535. The company’s fifty day moving average is $24.27 and its 200 day moving average is $22.18. The stock has a market cap of $395.25 million, a P/E 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.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, topping 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 quarter last year, the company earned $0.04 EPS. On average, sell-side analysts expect that Bank of Marin Bancorp will post 0.9 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised 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 report on Wednesday, December 4th. Finally, DA Davidson upgraded 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 note 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.