Bank of Marin Bancorp (BMRC) Announces Dividend Increase – $0.29 Per Share

Bank of Marin Bancorp (NASDAQ:BMRC) announced a quarterly dividend on Monday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 4th will be given a dividend of 0.29 per share by the bank on Friday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Bank of Marin Bancorp’s previous quarterly dividend of $0.27.

Shares of Bank of Marin Bancorp (BMRC) traded up 0.31% during trading on Friday, hitting $64.30. 40,627 shares of the company traded hands. Bank of Marin Bancorp has a one year low of $48.60 and a one year high of $75.05. The stock has a market cap of $392.87 million, a price-to-earnings ratio of 17.68 and a beta of 0.90. The firm has a 50 day moving average price of $64.33 and a 200-day moving average price of $65.02.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The business had revenue of $20.40 million for the quarter, compared to the consensus estimate of $20.33 million. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%. Analysts predict that Bank of Marin Bancorp will post $3.27 EPS for the current year.

Several analysts recently commented on the stock. Piper Jaffray Companies set a $68.00 price target on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. BidaskClub cut shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $68.00 price target on shares of Bank of Marin Bancorp in a report on Wednesday, June 28th. Finally, ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.75.

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About Bank of Marin Bancorp

Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

Dividend History for Bank of Marin Bancorp (NASDAQ:BMRC)

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