NasdaqCM:BMRC

Stock Analysis Report

Executive Summary

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Bank of Marin Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BMRC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.6%

BMRC

-1.2%

US Banks

-1.1%

US Market


1 Year Return

-2.7%

BMRC

9.8%

US Banks

17.8%

US Market

Return vs Industry: BMRC underperformed the US Banks industry which returned 9.8% over the past year.

Return vs Market: BMRC underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

BMRCIndustryMarket
7 Day-2.6%-1.2%-1.1%
30 Day-2.3%0.4%1.5%
90 Day-4.5%-0.8%6.6%
1 Year-0.8%-2.7%13.0%9.8%20.2%17.8%
3 Year31.7%24.9%23.4%14.5%47.5%38.1%
5 Year86.1%70.0%72.2%52.7%71.2%52.4%

Price Volatility Vs. Market

How volatile is Bank of Marin Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bank of Marin Bancorp undervalued compared to its fair value and its price relative to the market?

12.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BMRC ($43.13) is trading below our estimate of fair value ($49.12)

Significantly Below Fair Value: BMRC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BMRC is poor value based on its PE Ratio (17.2x) compared to the Banks industry average (12.6x).

PE vs Market: BMRC is good value based on its PE Ratio (17.2x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: BMRC is poor value based on its PEG Ratio (9.2x)


Price to Book Ratio

PB vs Industry: BMRC is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Bank of Marin Bancorp forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMRC's forecast earnings growth (1.9% per year) is above the savings rate (1.7%).

Earnings vs Market: BMRC's earnings (1.9% per year) are forecast to grow slower than the US market (14.1% per year).

High Growth Earnings: BMRC's earnings are forecast to grow, but not significantly.

Revenue vs Market: BMRC's revenue (1.7% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: BMRC's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BMRC's Return on Equity is forecast to be low in 3 years time (9.7%).


Next Steps

Past Performance

How has Bank of Marin Bancorp performed over the past 5 years?

13.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BMRC has high quality earnings.

Growing Profit Margin: BMRC's current net profit margins (33%) are higher than last year (32.1%).


Past Earnings Growth Analysis

Earnings Trend: BMRC's earnings have grown by 13.1% per year over the past 5 years.

Accelerating Growth: BMRC's earnings growth over the past year (5%) is below its 5-year average (13.1% per year).

Earnings vs Industry: BMRC earnings growth over the past year (5%) underperformed the Banks industry 12%.


Return on Equity

High ROE: BMRC's Return on Equity (10.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bank of Marin Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BMRC has a low level of unsold assets or inventory.

Debt Coverage by Assets: BMRC's debt is covered by short term assets (assets are 88.7x debt).


Financial Institutions Analysis

Asset Level: BMRC's level of assets compared to its equity is low.

Allowance for Bad Loans: BMRC has a sufficient allowance for bad loans.

Low Risk Liabilities: BMRC's liabilities are made up of primarily low risk sources of funding.

Loan Level: BMRC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BMRC's loans are broadly funded by customer deposits.

Level of Bad Loans: BMRC has an appropriate level of bad loans (0.01%)


Next Steps

Dividend

What is Bank of Marin Bancorp's current dividend yield, its reliability and sustainability?

2.13%

Current Dividend Yield


Dividend Yield vs Market

company2.1%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Years2.2%

Current dividend yield vs market & industry

Notable Dividend: BMRC's dividend (2.13%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: BMRC's dividend (2.13%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: BMRC's dividends per share have been stable in the past 10 years.

Growing Dividend: BMRC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.8%), BMRC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BMRC's dividends in 3 years are forecast to be well covered by earnings (36.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.0yrs

Average management tenure


CEO

Russ Colombo (66yo)

14.1yrs

Tenure

US$1,240,162

Compensation

Mr. Russell A. Colombo has been President, Chief Executive Officer and Director of Bank of Marin (the “Bank”) since 2006. He joined Bank of Marin in March 2004 as Executive Vice President and Branch Admini ...


CEO Compensation Analysis

Compensation vs Market: Russ's total compensation ($USD1.24M) is about average for companies of similar size in the US market ($USD1.67M).

Compensation vs Earnings: Russ's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Russell Colombo
President14.1yrsUS$1.24m0.46% $2.7m
Tani Girton
Executive VP & CFO0yrsUS$596.01k0.21% $1.2m
Elizabeth Reizman
Executive VP & Chief Credit Officer - Bank of Marin12.1yrsUS$561.43k0.38% $2.2m
Peter Pelham
Executive Vice President of Retail Banking - Bank of Marin15.1yrsUS$547.74k0.18% $1.1m
Timothy Myers
Executive Vice President of Commercial Banking - Bank of Marin12.8yrsUS$522.48k0.18% $1.1m
David Merck
Principal Accounting Officer0.8yrsno data0.0050% $29.4k
Nancy Boatright
Senior VP & Corporate Secretary - Bank of Marin13.1yrsno datano data
Katharine Baker
Senior Vice President0yrsUS$199.56kno data
Keith Zimmerman
Senior Vice President0yrsno datano data
Patrick London
Executive VP & Director of Private Banking13yrsUS$179.97kno data

13.0yrs

Average Tenure

60.5yo

Average Age

Experienced Management: BMRC's management team is seasoned and experienced (13 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Russell Colombo
President14.1yrsUS$1.24m0.46% $2.7m
James Hale
Independent Director5.9yrsUS$71.00k0.029% $171.7k
H. Heller
Independent Director15.1yrsUS$70.00k0.10% $587.6k
Norma Howard
Independent Director13.1yrsUS$70.00k0.25% $1.4m
Joel Sklar
Independent Director30.8yrsUS$70.00k0.86% $5.0m
Brian Sobel
Chairman of the Board4.8yrsUS$85.00k0.18% $1.0m
William McDevitt
Vice Chairman of the Board4.6yrsUS$74.00k0.21% $1.2m
Kevin Kennedy
Independent Director6.3yrsUS$65.00k0.14% $828.4k
Leslie Murphy
Independent Director3.1yrsUS$65.00k0.073% $427.6k
Steven Barlow
Independent Director2.3yrsUS$40.62k0.021% $120.7k

6.1yrs

Average Tenure

66.5yo

Average Age

Experienced Board: BMRC's board of directors are considered experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BMRC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bank of Marin Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bank of Marin Bancorp
  • Ticker: BMRC
  • Exchange: NasdaqCM
  • Founded: 1989
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$582.496m
  • Shares outstanding: 13.51m
  • Website: https://www.bankofmarin.com

Number of Employees


Location

  • Bank of Marin Bancorp
  • 504 Redwood Boulevard
  • Suite 100
  • Novato
  • California
  • 94947
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BMRCNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMay 1995

Biography

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services. It also provides commercial real estate, commercial and industrial, and consumer loans, as well as construction financing and home equity lines of credit. In addition, the company offers merchant card and cash management services; credit cards; mobile deposit, remote deposit capture, automated clearing house, and image lockbox services, as well as wire transfers; fraud detection tools; and valet pick-up service for non-cash deposits. Further, it provides wealth management and trust services comprising customized investment portfolio management, trust administration, estate settlement, and custody services, as well as 401(k) plan services; and automated teller machines, and telephone and Internet banking services. The company operates 23 offices in Marin, Sonoma, San Francisco, Napa, and Alameda counties. Bank of Marin Bancorp was founded in 1989 and is headquartered in Novato, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 02:40
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.