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

Fundamentals

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


Market Performance


7 Day Return

2.9%

BMRC

4.1%

US Banks

1.0%

US Market


1 Year Return

5.4%

BMRC

7.2%

US Banks

8.0%

US Market

Return vs Industry: BMRC underperformed the US Banks industry which returned 7.2% over the past year.

Return vs Market: BMRC underperformed the US Market which returned 8% over the past year.


Shareholder returns

BMRCIndustryMarket
7 Day2.9%4.1%1.0%
30 Day-2.3%2.8%-0.07%
90 Day-3.2%2.9%-1.0%
1 Year7.3%5.4%10.3%7.2%10.4%8.0%
3 Year78.1%69.0%53.9%43.3%46.2%36.7%
5 Year92.3%75.8%71.9%53.1%64.3%46.2%

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?

17.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BMRC ($42.63) is trading above our estimate of fair value ($37)

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


Price To Earnings Ratio

PE vs Industry: BMRC is poor value based on its PE Ratio (17.3x) compared to the Banks industry average (12.6x).

PE vs Market: BMRC is good value based on its PE Ratio (17.3x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: BMRC is poor value based on its PEG Ratio (11.9x)


Price to Book Ratio

PB vs Industry: BMRC is overvalued based on its PB Ratio (1.8x) 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?

1.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMRC's forecast earnings growth (1.5% per year) is below the savings rate (2.7%).

Earnings vs Market: BMRC's earnings (1.5% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: BMRC's revenue (0.05% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: BMRC's revenue (0.05% 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 (9.4%).


Next Steps

Past Performance

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

11.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BMRC's earnings have grown by 11.1% per year over the past 5 years.

Accelerating Growth: BMRC's earnings growth over the past year (65.9%) exceeds its 5-year average (11.1% per year).

Earnings vs Industry: BMRC earnings growth over the past year (65.9%) exceeded the Banks industry 30.1%.


Return on Equity

High ROE: BMRC's Return on Equity (10.4%) is considered low.


Return on Assets

ROA vs Industry: BMRC has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate BMRC's Return on Capital Employed to determine if it has improved over the past 3 years.


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 17.623410x 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 (0.03%)


Next Steps

Dividend

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

1.97%

Current Dividend Yield


Dividend Yield vs Market

company2.0%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years2.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BMRC's dividend (1.97%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: BMRC's dividend (1.97%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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 (28.9%), 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 (36.3% payout ratio).


Next Steps

Management

What is the CEO of Bank of Marin Bancorp's salary, the management and board of directors tenure and is there insider trading?

12.7yrs

Average management tenure


CEO

Russ Colombo (66yo)

13.8yrs

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 ($USD1.24M) is below average for companies of similar size in the US market ($USD1.82M).

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


Management Age and Tenure

12.7yrs

Average Tenure

60.5yo

Average Age

Experienced Management: BMRC's management team is seasoned and experienced (12.7 years average tenure).


Board Age and Tenure

5.8yrs

Average Tenure

66.5yo

Average Age

Experienced Board: BMRC's board of directors are considered experienced (5.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$120,30605 Sep 19
Peter Pelham
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail Banking - Bank of Marin
Shares3,000
Max PriceUS$40.10
SellUS$134,88826 Jul 19
Peter Pelham
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail Banking - Bank of Marin
Shares3,109
Max PriceUS$43.39
SellUS$16,87625 Jul 19
Peter Pelham
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail Banking - Bank of Marin
Shares391
Max PriceUS$43.17
SellUS$25,86510 May 19
Peter Pelham
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail Banking - Bank of Marin
Shares624
Max PriceUS$41.45
SellUS$118,15125 Apr 19
Peter Pelham
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail Banking - Bank of Marin
Shares2,818
Max PriceUS$41.93
SellUS$107,48125 Apr 19
Russell Colombo
EntityIndividual
Role
Chief Executive Officer
President
Shares2,553
Max PriceUS$42.10
SellUS$214,91408 Feb 19
Russell Colombo
EntityIndividual
Role
Chief Executive Officer
President
Shares5,117
Max PriceUS$42.00

Ownership Breakdown


Management Team

  • Katharine Baker

    Senior Vice President

    • Tenure: 0yrs
    • Compensation: US$199.56k
  • Nancy Boatright (72yo)

    Senior VP & Corporate Secretary - Bank of Marin

    • Tenure: 12.8yrs
  • Keith Zimmerman

    Senior Vice President

    • Tenure: 0yrs
  • Beth Reizman (60yo)

    Executive VP & Chief Credit Officer - Bank of Marin

    • Tenure: 11.8yrs
    • Compensation: US$561.43k
  • Peter Pelham (62yo)

    Executive Vice President of Retail Banking - Bank of Marin

    • Tenure: 14.8yrs
    • Compensation: US$547.74k
  • Patrick London (61yo)

    Executive VP & Director of Private Banking

    • Tenure: 12.7yrs
    • Compensation: US$179.97k
  • Russ Colombo (66yo)

    President

    • Tenure: 13.8yrs
    • Compensation: US$1.24m
  • Tim Myers (48yo)

    Executive Vice President of Commercial Banking - Bank of Marin

    • Tenure: 12.5yrs
    • Compensation: US$522.48k
  • Tani Girton (59yo)

    Executive VP & CFO

    • Tenure: 0yrs
    • Compensation: US$596.01k
  • David Merck (56yo)

    Principal Accounting Officer

    • Tenure: 0.4yrs

Board Members

  • Jim Hale (67yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: US$71.00k
  • H. Heller (79yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$70.00k
  • Norma Howard (69yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: US$70.00k
  • Joel Sklar (69yo)

    Independent Director

    • Tenure: 30.4yrs
    • Compensation: US$70.00k
  • Brian Sobel (64yo)

    Chairman of the Board

    • Tenure: 4.4yrs
    • Compensation: US$85.00k
  • Russ Colombo (66yo)

    President

    • Tenure: 13.8yrs
    • Compensation: US$1.24m
  • Willie McDevitt (66yo)

    Vice Chairman of the Board

    • Tenure: 4.3yrs
    • Compensation: US$74.00k
  • Kevin Kennedy (52yo)

    Director

    • Tenure: 5.9yrs
    • Compensation: US$65.00k
  • Leslie Murphy (57yo)

    Director

    • Tenure: 2.8yrs
    • Compensation: US$65.00k
  • Steve Barlow (69yo)

    Director

    • Tenure: 1.9yrs
    • Compensation: US$40.62k

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$578.564m
  • Shares outstanding: 13.57m
  • 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- ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 00:02
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.