Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders of record on Thursday, May 9th will be given a dividend of 0.25 per share by the bank on Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend is Wednesday, May 8th.
Bank of Marin Bancorp has raised its dividend by an average of 2.8% per year over the last three years. Bank of Marin Bancorp has a dividend payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Marin Bancorp to earn $1.59 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 62.9%.
Bank of Marin Bancorp Trading Down 0.6 %
NASDAQ BMRC opened at $14.36 on Wednesday. The company has a fifty day simple moving average of $16.10 and a two-hundred day simple moving average of $18.30. The stock has a market cap of $234.07 million, a P/E ratio of 17.30 and a beta of 0.85. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24.
Wall Street Analyst Weigh In
A number of research firms have issued reports on BMRC. DA Davidson decreased their price target on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday. Stephens reduced their target price on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday.
Get Our Latest Stock Report on BMRC
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.
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