Bank of Marin Bancorp (BMRC) to Issue Quarterly Dividend of $0.25 on November 14th

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 dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, November 7th.

Bank of Marin Bancorp has raised its dividend 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 dividend payout ratio of 67.6% indicating that 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 Stock Up 0.2 %

Shares of NASDAQ BMRC traded up $0.05 during midday trading on Tuesday, reaching $22.06. 626 shares of the stock were exchanged, compared to its average volume of 76,723. The firm has a market cap of $359.14 million, a price-to-earnings ratio of -25.59 and a beta of 0.90. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.35. The firm has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $18.41.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $39.21 million for 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 quarter last year, the firm posted $0.33 EPS. Research analysts expect that Bank of Marin Bancorp will post 0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRC has been the subject of a number of research reports. StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price 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. Finally, 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.

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.