Bank of Marin Bancorp (BMRC) To Go Ex-Dividend on November 7th

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.25 per share by the bank on Thursday, November 14th. This represents a $1.00 dividend on an annualized basis 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 increased its dividend annually for the last 18 consecutive 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

Shares of Bank of Marin Bancorp 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 company has a market capitalization of $358.32 million, a PE ratio of -25.59 and a beta of 0.90. 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 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company 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 prior year, the company earned $0.33 earnings per share. On average, equities analysts expect that Bank of Marin Bancorp will post 0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BMRC shares. Keefe, Bruyette & Woods raised their target price on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 10th. Finally, StockNews.com upgraded Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report 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.