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

Bank of Marin Bancorp (NASDAQ:BMRC) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders 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 dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has increased its dividend payment by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 18 years. Bank of Marin Bancorp has a 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 Price Performance

BMRC opened at $22.01 on Tuesday. The company has a market capitalization of $358.32 million, a PE ratio of -25.59 and a beta of 0.90. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $23.35. The business has a 50-day moving average of $20.99 and a 200-day moving average of $18.41.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates of $27.30 million. 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 company earned $0.33 EPS. On average, equities research analysts expect that Bank of Marin Bancorp will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRC has been the topic of a number of research analyst reports. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, 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.

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.