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

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

Bank of Marin Bancorp has increased its dividend payment 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

Bank of Marin Bancorp stock traded down $0.76 on Tuesday, reaching $24.58. The company’s stock had a trading volume of 113,101 shares, compared to its average volume of 53,535. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11. The company has a market cap of $395.25 million, a price-to-earnings ratio of -28.58 and a beta of 0.93. The business’s fifty day moving average price is $24.27 and its 200 day moving average price is $22.18.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, equities analysts forecast that Bank of Marin Bancorp will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Finally, Stephens reissued an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd.

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.