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BMRC

Bank of Marin Bancorp NasdaqCM:BMRC Stock Report

Last Price

US$31.60

Market Cap

US$503.9m

7D

-3.4%

1Y

-12.6%

Updated

06 Aug, 2022

Data

Company Financials +
BMRC fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance2/6
Financial Health6/6
Dividends5/6

BMRC Stock Overview

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, professionals, not-for-profit organizations, and individuals in California, the United States.

Bank of Marin Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Bank of Marin Bancorp
Historical stock prices
Current Share PriceUS$31.60
52 Week HighUS$39.65
52 Week LowUS$30.05
Beta0.71
1 Month Change-1.62%
3 Month Change-2.32%
1 Year Change-12.59%
3 Year Change-24.24%
5 Year Change0%
Change since IPO1,613.07%

Recent News & Updates

Aug 03

Bank of Marin Bancorp goes ex-dividend tomorrow

Bank of Marin Bancorp (NASDAQ:BMRC) had declared $0.25/share quarterly dividend, 4.2% increase from prior dividend of $0.24. Payable Aug. 12; for shareholders of record Aug. 5; ex-div Aug. 4. See BMRC Dividend Scorecard, Yield Chart, & Dividend Growth.

Jul 28
Bank of Marin Bancorp (NASDAQ:BMRC) Is Paying Out A Larger Dividend Than Last Year

Bank of Marin Bancorp (NASDAQ:BMRC) Is Paying Out A Larger Dividend Than Last Year

The board of Bank of Marin Bancorp ( NASDAQ:BMRC ) has announced that it will be paying its dividend of $0.25 on the...

Jul 25

Bank of Marin Bancorp Non-GAAP EPS of $0.71 beats by $0.04, revenue of $33.92M beats by $0.52M

Bank of Marin Bancorp press release (NASDAQ:BMRC): Q2 Non-GAAP EPS of $0.71 beats by $0.04. Revenue of $33.92M (+27.8% Y/Y) beats by $0.52M.

Shareholder Returns

BMRCUS BanksUS Market
7D-3.4%0.3%1.0%
1Y-12.6%-14.1%-12.9%

Return vs Industry: BMRC exceeded the US Banks industry which returned -14.1% over the past year.

Return vs Market: BMRC matched the US Market which returned -12.8% over the past year.

Price Volatility

Is BMRC's price volatile compared to industry and market?
BMRC volatility
BMRC Average Weekly Movement3.0%
Banks Industry Average Movement3.7%
Market Average Movement7.9%
10% most volatile stocks in US Market17.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: BMRC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: BMRC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1989290Tim Myershttps://www.bankofmarin.com

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, professionals, not-for-profit organizations, and individuals in California, the United States. It 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. The company also provides commercial real estate, commercial and industrial, and consumer loans, as well as construction financing and home equity lines of credit.

Bank of Marin Bancorp Fundamentals Summary

How do Bank of Marin Bancorp's earnings and revenue compare to its market cap?
BMRC fundamental statistics
Market CapUS$503.95m
Earnings (TTM)US$36.53m
Revenue (TTM)US$130.65m

13.8x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BMRC income statement (TTM)
RevenueUS$130.65m
Cost of RevenueUS$0
Gross ProfitUS$130.65m
Other ExpensesUS$94.13m
EarningsUS$36.53m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.29
Gross Margin100.00%
Net Profit Margin27.96%
Debt/Equity Ratio0%

How did BMRC perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

41%

Payout Ratio
We’ve recently updated our valuation analysis.

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

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BMRC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.7x

Price to Earnings Ratio vs Peers

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

BMRC PE Ratio vs Peers
The above table shows the PE ratio for BMRC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.8x
FCBC First Community Bankshares
11.8xn/aUS$517.0m
THFF First Financial
9.3x-5.6%US$556.1m
MBWM Mercantile Bank
11x18.1%US$548.5m
AROW Arrow Financial
11.3x8.6%US$540.0m
BMRC Bank of Marin Bancorp
13.8x7.9%US$503.9m

Price-To-Earnings vs Peers: BMRC is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (10.8x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: BMRC is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the US Banks industry average (9.8x)


Price to Earnings Ratio vs Fair Ratio

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

BMRC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio12.3x

Price-To-Earnings vs Fair Ratio: BMRC is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.3x).


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 ($31.6) is trading below our estimate of fair value ($73.49)

Significantly Below Fair Value: BMRC is trading below fair value by more than 20%.


Analyst Price Targets

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

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


Discover undervalued companies

Future Growth

How is Bank of Marin Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMRC's forecast earnings growth (7.9% per year) is above the savings rate (1.9%).

Earnings vs Market: BMRC's earnings (7.9% per year) are forecast to grow slower than the US market (12.8% per year).

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

Revenue vs Market: BMRC's revenue (7.7% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: BMRC's revenue (7.7% 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 (10.8%).


Discover growth companies

Past Performance

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

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BMRC has high quality earnings.

Growing Profit Margin: BMRC's current net profit margins (28%) are lower than last year (31.6%).


Past Earnings Growth Analysis

Earnings Trend: BMRC's earnings have grown by 10.6% per year over the past 5 years.

Accelerating Growth: BMRC's earnings growth over the past year (7.9%) is below its 5-year average (10.6% per year).

Earnings vs Industry: BMRC earnings growth over the past year (7.9%) underperformed the Banks industry 9.2%.


Return on Equity

High ROE: BMRC's Return on Equity (8.9%) is considered low.


Discover strong past performing companies

Financial Health

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

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BMRC's Assets to Equity ratio (10.6x) is moderate.

Allowance for Bad Loans: BMRC has a sufficient allowance for bad loans (281%).

Low Risk Liabilities: 98% of BMRC's liabilities are made up of primarily low risk sources of funding.

Loan Level: BMRC has an appropriate level of Loans to Assets ratio (49%).

Low Risk Deposits: BMRC's Loans to Deposits ratio (56%) is appropriate.

Level of Bad Loans: BMRC has an appropriate level of bad loans (0.4%).


Discover healthy companies

Dividend

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

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.16%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BMRC's dividend (3.16%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: BMRC's dividend (3.16%) is low compared to the top 25% of dividend payers in the US market (4.09%).


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

Earnings Coverage: With its reasonably low payout ratio (41.2%), 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 (33% payout ratio).


Discover strong dividend paying companies

Management

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

3.3yrs

Average management tenure


CEO

Tim Myers (51 yo)

1.25yrs

Tenure

US$809,192

Compensation

Mr. Timothy D. Myers, also known as Tim, serves as Chief Executive Officer & Director at Bank of Marin Bancorp and Bank of Marin since November 1, 2021. He has been President at Bank of Marin Bancorp and B...


CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD809.19K) is below average for companies of similar size in the US market ($USD2.70M).

Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: BMRC's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: BMRC's board of directors are considered experienced (8.6 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 23.1%.


Top Shareholders

Company Information

Bank of Marin Bancorp's 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
  • Implied Market Cap: US$503.950m
  • Shares outstanding: 15.95m
  • Website: https://www.bankofmarin.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.