Bank of Marin Bancorp

NasdaqCM:BMRC Stock Report

Market Cap: US$381.3m

Bank of Marin Bancorp Valuation

Is BMRC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BMRC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BMRC ($23.89) is trading above our estimate of fair value ($7.51)

Significantly Below Fair Value: BMRC is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BMRC?

Key metric: As BMRC is an unprofitable bank we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for BMRC. This is calculated by dividing BMRC's market cap by their current book value.
What is BMRC's PB Ratio?
PB Ratio0.9x
BookUS$436.96m
Market CapUS$381.33m

Price to Book Ratio vs Peers

How does BMRC's PB Ratio compare to its peers?

The above table shows the PB ratio for BMRC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1x
WTBA West Bancorporation
1.6x24.7%US$370.5m
FFIC Flushing Financial
0.6x65.9%US$421.5m
SFST Southern First Bancshares
1x40.7%US$331.1m
RBB RBB Bancorp
0.7x0.8%US$374.0m
BMRC Bank of Marin Bancorp
0.9x107.8%US$381.3m

Price-To-Book vs Peers: BMRC is good value based on its Price-To-Book Ratio (0.9x) compared to the peer average (1x).

Price to Book Ratio vs Industry

How does BMRC's PB Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / BookEstimated GrowthMarket Cap
FRCB First Republic Bank
0.002xn/aUS$27.98m
SBNY Signature Bank
0.0003xn/aUS$2.18m
BKES.F Banco Espírito Santo
n/an/aUS$56.01k
BCBH.F Caribbean Investment Holdings
n/an/aUS$132.00
No more companies available in this PB range
BMRC 0.9xIndustry Avg. 1.0xNo. of Companies138PB00.61.21.82.43+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: BMRC is good value based on its Price-To-Book Ratio (0.9x) compared to the US Banks industry average (1x).

Price to Book Ratio vs Fair Ratio

What is BMRC's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BMRC PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate BMRC's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BMRC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$23.89
US$28.60
+19.7%
6.9%US$30.00US$25.00n/a5
Dec ’25US$25.28
US$24.40
-3.5%
6.7%US$26.00US$22.00n/a5
Nov ’25US$22.14
US$24.40
+10.2%
6.7%US$26.00US$22.00n/a5
Oct ’25US$19.26
US$21.70
+12.7%
5.4%US$23.00US$20.00n/a5
Sep ’25US$21.39
US$21.60
+1.0%
5.6%US$23.00US$20.00n/a5
Aug ’25US$19.18
US$21.60
+12.6%
5.6%US$23.00US$20.00n/a5
Jul ’25US$16.46
US$17.40
+5.7%
14.8%US$21.00US$15.00n/a5
Jun ’25US$15.38
US$17.40
+13.1%
14.8%US$21.00US$15.00n/a5
May ’25US$14.81
US$18.20
+22.9%
21.3%US$25.00US$15.00n/a5
Apr ’25US$16.39
US$21.50
+31.2%
13.2%US$25.00US$16.50n/a5
Mar ’25US$16.61
US$21.80
+31.2%
10.6%US$25.00US$18.00n/a5
Feb ’25US$18.91
US$22.20
+17.4%
7.7%US$25.00US$20.00n/a5
Jan ’25US$22.02
US$21.80
-1.0%
7.3%US$24.00US$20.00n/a5
Dec ’24US$20.44
US$19.60
-4.1%
11.9%US$22.00US$16.00US$25.285
Nov ’24US$17.37
US$19.60
+12.8%
11.9%US$22.00US$16.00US$22.145
Oct ’24US$18.28
US$21.60
+18.2%
6.9%US$23.00US$19.00US$19.265
Sep ’24US$19.29
US$21.60
+12.0%
6.9%US$23.00US$19.00US$21.395
Aug ’24US$20.94
US$21.60
+3.2%
6.9%US$23.00US$19.00US$19.185
Jul ’24US$17.67
US$22.00
+24.5%
11.5%US$25.00US$19.00US$16.465
Jun ’24US$16.66
US$22.00
+32.1%
12.2%US$25.00US$18.00US$15.385
May ’24US$16.92
US$22.00
+30.0%
12.2%US$25.00US$18.00US$14.815
Apr ’24US$21.89
US$32.80
+49.8%
14.4%US$38.00US$24.00US$16.395
Mar ’24US$29.29
US$34.80
+18.8%
4.9%US$38.00US$33.00US$16.615
Feb ’24US$30.44
US$34.80
+14.3%
4.9%US$38.00US$33.00US$18.915
Jan ’24US$32.88
US$36.00
+9.5%
5.8%US$40.00US$34.00US$22.025
Dec ’23US$35.57
US$36.60
+2.9%
5.9%US$40.00US$34.00US$20.445

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 05:01
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bank of Marin Bancorp is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullD.A. Davidson & Co.
Jeffrey RulisD.A. Davidson & Co.
Timothy CoffeyFIG Partners