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 San Francisco Bay Area, California in 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 and payroll, 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 digital banking services. As of January 25, 2021, the company operated 21 retail branches, 5 commercial banking offices, and 2 loan production offices located across 7 Bay Area counties. Bank of Marin Bancorp was founded in 1989 and is headquartered in Novato, California.
IPO Year:
Exchange: NASDAQ
Website: bankofmarin.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/10/2024 | $24.00 | Neutral → Buy | DA Davidson |
| 3/2/2023 | Neutral → Buy | Janney | |
| 12/28/2021 | $40.00 | Equal-Weight | Stephens |
| 12/21/2021 | $45.00 | Outperform | Keefe Bruyette |
| 7/20/2021 | $43.00 | Mkt Perform → Outperform | Keefe Bruyette |
Keefe, Bruyette & Woods analyst Wood Lay maintains Bank of Marin (NASDAQ:BMRC) with a Outperform and maintains $21 price target.
In the preceding three months, 4 analysts have released ratings for Bank of Marin (NASDAQ:BMRC), presenting a wide array of perspectives from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 1 2 0 0 3M Ago 0 0 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $17.0, a high estimate of $21.00, and a low estimate of $15.00. Highlighting a 11.69% decrease, the current
Stephens & Co. analyst Andrew Terrell reiterates Bank of Marin (NASDAQ:BMRC) with a Equal-Weight and maintains $16 price target.
The securities sold represented 56% of the AFS portfolio and had an average yield of 1.94%. The sale will result in an estimated after-tax loss of approximately $23 million that will be recorded in the second quarter of 2024. Assuming a 5.75% average yield on reinvestment, the securities repositioning is expected to have an approximate 3-year capital earn back and contribute approximately 30 basis points to annualized net interest margin beginning third quarter, resulting in $0.46 estimated earnings per share accretion over the next four quarters.
Keefe, Bruyette & Woods analyst Wood Lay maintains Bank of Marin (NASDAQ:BMRC) with a Outperform and lowers the price target from $25 to $21.
DA Davidson analyst Jeff Rulis maintains Bank of Marin (NASDAQ:BMRC) with a Neutral and lowers the price target from $17 to $15.
Stephens & Co. analyst Andrew Terrell maintains Bank of Marin (NASDAQ:BMRC) with a Equal-Weight and lowers the price target from $19 to $16.
Bank of Marin (NASDAQ:BMRC) reported quarterly earnings of $0.18 per share which missed the analyst consensus estimate of $0.26 by 30.77 percent. This is a 69.49 percent decrease over earnings of $0.59 per share from the same period last year. The company reported quarterly sales of $22.694 million which missed the analyst consensus estimate of $24.847 million by 8.66 percent. This is a 30.88 percent decrease over sales of $32.834 million the same period last year.
By the close of today, February 15, 2024, Bank of Marin (NASDAQ:BMRC) will issue a dividend payout of $0.25 per share, resulting in an annualized dividend yield of 4.84%. This payout is exclusively for shareholders who held the stock before the ex-dividend date on February 07, 2024. Bank of Marin Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:
Tuesday marks the last chance for investors to receive the next dividend payout from Bank of Marin (NASDAQ:BMRC). What's Happening The company announced on Thursday that it would pay shareholders a quarterly dividend of 25 cents per share. On Wednesday, Bank of Marin will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 25 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own BMRC as of the end of Tuesday's session are eligible to receive the 25 cents divide
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Bank of Marin Bancorp (NASDAQ:BMRC) will present its third quarter earnings call via webcast on Monday, October 28, 2024, at 8:30 a.m. PT/11:30 a.m. ET. All interested parties are invited to listen to President and Chief Executive Officer Tim Myers, Executive Vice President and Chief Financial Officer Tani Girton, and Executive Vice President and Chief Credit Officer Misako Stewart, discuss the Company's fiscal third quarter, which ended September 30, 2024. Investors will have the opportunity to listen to the webcast online through Bank of Marin's website at www.bankofmarin.com under "Investor Relations." To listen to the webcast live, please log on at least 15 minutes before the call to
Strong Capital Supports Repositioning for Profitability Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced a net loss of $21.9 million for the second quarter of 2024, compared to net income of $2.9 million for the first quarter of 2024. Diluted loss per share was $(1.36) for the second quarter, compared to earnings per share of $0.18 for the prior quarter. Net loss for the first six months of 2024 totaled $19.0 million, compared to net income of $14.0 million for the same period last year. Diluted (loss) earnings per share were $(1.18) and $0.87 for the first six months of 2024 and 2023, respectively. Both the second quarter and six months o
Bank of Marin Bancorp (NASDAQ:BMRC) will present its second quarter earnings call via webcast on Monday, July 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET. All interested parties are invited to listen to President and Chief Executive Officer Tim Myers, Executive Vice President and Chief Financial Officer Tani Girton, and Executive Vice President and Chief Credit Officer Misako Stewart discuss the Company's fiscal second quarter, which ended June 30, 2024. Investors will have the opportunity to listen to the webcast online through Bank of Marin's website at www.bankofmarin.com under "Investor Relations." To listen to the webcast live, please log on at least 15 minutes before the call to regis
Bank of Marin, the wholly owned subsidiary of Bank of Marin Bancorp (NASDAQ:BMRC), announced today that it sold $293 million in available-for-sale securities (AFS) as part of a strategy designed to improve future earnings, drive earnings per share (EPS) growth, and increase its return on equity. "Our robust capital levels allow us to proactively reposition our balance sheet, which will create additional value for the Bank and our shareholders through increased earnings and improved net interest margin," said Tim Myers, Bank of Marin president and CEO. "We have already redeployed some of the proceeds and expect to reinvest the remainder into higher yielding loans and short-duration securit
Non-Interest Bearing Deposit Growth and Proactive Credit Risk Management Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $2.9 million for the first quarter of 2024, compared to $610 thousand for the fourth quarter of 2023 and $9.4 million for the first quarter of 2023. Diluted earnings per share were $0.18 for the first quarter, compared to $0.04 for the prior quarter and $0.59 for the first quarter of 2023. Net interest margin compression due to the rapid rise in interest rates this cycle is clearly evident in the comparison of 2024 and 2023 first quarter earnings. In addition, prior quarter results reflected a $5.9 million p
Bank of Marin Bancorp (NASDAQ:BMRC) will present its first quarter earnings call via webcast on Monday, April 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET. All interested parties are invited to listen to President and Chief Executive Officer Tim Myers, Executive Vice President and Chief Financial Officer Tani Girton, and Executive Vice President and Chief Credit Officer Misako Stewart discuss the Company's fiscal first quarter, which ended March 31, 2024. Investors will have the opportunity to listen to the webcast online through Bank of Marin's website at www.bankofmarin.com under "Investor Relations." To listen to the webcast live, please log on at least 15 minutes before the call to regis
Bank of Marin Bancorp (NASDAQ:BMRC) and Bank of Marin, its wholly owned subsidiary, announce the retirement of Robert Heller from its board of directors effective May 13, 2024. Heller joined both Bank of Marin Bancorp and Bank of Marin boards in 2005. "It has been a great pleasure to serve on the boards of Bank of Marin and Bank of Marin Bancorp, the preeminent community banking institution of northern California, for the last two decades. During this time, the Bank grew its assets five-fold while maintaining a pristine credit quality and paying consistent dividends to its shareholders," said Heller. "The Bank showed by its strength and resilience the true value that a local community ban
Proactive Balance Sheet and Credit Risk Management Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," today announced earnings of $610 thousand for the fourth quarter of 2023, compared to $5.3 million for the third quarter of 2023. Diluted earnings per share were $0.04 for the fourth quarter of 2023, compared to $0.33 for the prior quarter. Full year 2023 earnings were $19.9 million, compared to $46.6 million for 2022. Diluted earnings per share were $1.24 and $2.92 for the years ended December 31, 2023 and December 31, 2022, respectively. Major drivers of the decrease in fourth quarter earnings were a $5.9 million pretax net loss on the sale of inves
Bank of Marin Bancorp (NASDAQ:BMRC) will present its fourth quarter earnings call via webcast on Monday, January 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET. All interested parties are invited to listen to President and Chief Executive Officer Tim Myers and Executive Vice President and Chief Financial Officer Tani Girton discuss the Company's fiscal fourth quarter, which ended December 31, 2023. Changes in our earnings call schedule correspond to changes in the Board of Directors and Board Committee meeting calendars for 2024. Investors will have the opportunity to listen to the webcast online through Bank of Marin's website at www.bankofmarin.com under "Investor Relations." To listen to th
Deposit Stability and Strong Credit Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $5.3 million for the third quarter of 2023, compared to $4.6 million for the second quarter of 2023. Diluted earnings per share were $0.33 for the third quarter, compared to $0.28 for the prior quarter. Earnings for the first nine months of 2023 totaled $19.3 million, compared to $33.7 million for the same period in 2022. Diluted earnings per share were $1.20 and $2.11 for the first nine months of 2023 and 2022, respectively. Earnings reported for 2022 were impacted by the costs associated with our most recent acquisition, the details of which
DA Davidson upgraded Bank of Marin from Neutral to Buy and set a new price target of $24.00
Janney upgraded Bank of Marin from Neutral to Buy
Stephens initiated coverage of Bank of Marin with a rating of Equal-Weight and set a new price target of $40.00
Keefe Bruyette resumed coverage of Bank of Marin with a rating of Outperform and set a new price target of $45.00
Keefe Bruyette upgraded Bank of Marin from Mkt Perform to Outperform and set a new price target of $43.00
Strong Capital Supports Repositioning for Profitability Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced a net loss of $21.9 million for the second quarter of 2024, compared to net income of $2.9 million for the first quarter of 2024. Diluted loss per share was $(1.36) for the second quarter, compared to earnings per share of $0.18 for the prior quarter. Net loss for the first six months of 2024 totaled $19.0 million, compared to net income of $14.0 million for the same period last year. Diluted (loss) earnings per share were $(1.18) and $0.87 for the first six months of 2024 and 2023, respectively. Both the second quarter and six months o
Non-Interest Bearing Deposit Growth and Proactive Credit Risk Management Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $2.9 million for the first quarter of 2024, compared to $610 thousand for the fourth quarter of 2023 and $9.4 million for the first quarter of 2023. Diluted earnings per share were $0.18 for the first quarter, compared to $0.04 for the prior quarter and $0.59 for the first quarter of 2023. Net interest margin compression due to the rapid rise in interest rates this cycle is clearly evident in the comparison of 2024 and 2023 first quarter earnings. In addition, prior quarter results reflected a $5.9 million p
Proactive Balance Sheet and Credit Risk Management Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," today announced earnings of $610 thousand for the fourth quarter of 2023, compared to $5.3 million for the third quarter of 2023. Diluted earnings per share were $0.04 for the fourth quarter of 2023, compared to $0.33 for the prior quarter. Full year 2023 earnings were $19.9 million, compared to $46.6 million for 2022. Diluted earnings per share were $1.24 and $2.92 for the years ended December 31, 2023 and December 31, 2022, respectively. Major drivers of the decrease in fourth quarter earnings were a $5.9 million pretax net loss on the sale of inves
Deposit Stability and Strong Credit Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $5.3 million for the third quarter of 2023, compared to $4.6 million for the second quarter of 2023. Diluted earnings per share were $0.33 for the third quarter, compared to $0.28 for the prior quarter. Earnings for the first nine months of 2023 totaled $19.3 million, compared to $33.7 million for the same period in 2022. Diluted earnings per share were $1.20 and $2.11 for the first nine months of 2023 and 2022, respectively. Earnings reported for 2022 were impacted by the costs associated with our most recent acquisition, the details of which
Strong Deposit Growth Bolsters Balance Sheet Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $4.6 million for the second quarter of 2023, compared to $9.4 million for the first quarter of 2023. The decline in earnings stemmed from the cost of interest bearing deposits catching up to market interest rates and higher average balances on borrowings. Diluted earnings per share were $0.28 for the second quarter, compared to $0.59 for the prior quarter. Earnings for the first six months of 2023 totaled $14.0 million, compared to $21.5 million for the same period last year. Diluted earnings per share were $0.87 and $1.35 for the firs
Strong Balance Sheet Management Provides Ample Liquidity Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $9.4 million in the first quarter of 2023, compared to $12.9 million in the fourth quarter of 2022 and $10.5 million in the first quarter of 2022. The decline in earnings was a result of higher interest expense reflecting higher market interest rates on a lagged basis. Diluted earnings per share were $0.59 in the first quarter, compared to $0.81 in the prior quarter, and $0.66 in the same quarter last year. Bancorp issued an earnings presentation, concurrently with this release, to provide additional financial detail for
Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $12.9 million in the fourth quarter of 2022, compared to $12.2 million in the third quarter of 2022. Diluted earnings per share were $0.81 in the fourth quarter of 2022, compared to $0.76 in the prior quarter and $0.61 the same quarter a year ago. Annual earnings were $46.6 million in 2022, compared to $33.2 million in 2021. Diluted earnings per share were $2.92 for the year ended December 31, 2022, compared to $2.30 per share for the year ended December 31, 2021. Certain periods of earnings presented were impacted by the costs associated with our acquisition of American River B
Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced record earnings of $12.2 million for the third quarter, compared to $11.1 million for the second quarter of 2022. Diluted earnings per share were $0.76 for the third quarter, compared to $0.69 for the preceding quarter. Earnings for the first nine months of 2022 totaled $33.7 million, compared to $23.5 million for the same period last year. Diluted earnings per share were $2.11 and $1.69 for the first nine months of 2022 and 2021, respectively. Certain periods of earnings presented were impacted by the costs associated with our acquisition of American River Bank ("ARB"), the details of which a
Increases Dividend to 25 Cents Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced record earnings of $11.1 million in the second quarter of 2022, compared to $10.5 million in the first quarter of 2022. Diluted earnings per share were $0.69 in the second quarter of 2022, compared to $0.66 in the immediately preceding quarter. Earnings for the first six months of 2022 totaled $21.5 million, compared to $18.2 million in the same period last year. Diluted earnings per share were $1.35 and $1.37 in the first six months of 2022 and 2021, respectively. All periods of earnings presented were impacted by the costs associated with our most recent acqui
American River Conversion Complete Bank of Marin Bancorp, "Bancorp" (NASDAQ:BMRC), parent company of Bank of Marin, "Bank," announced earnings of $10.5 million in the first quarter of 2022, compared to $9.7 million in the fourth quarter of 2021 and $8.9 million in the first quarter of 2021. Diluted earnings per share were $0.66 in the first quarter, $0.61 in the prior quarter, and $0.66 in the same quarter last year. First quarter 2022 and fourth quarter 2021 earnings were impacted by the costs associated with our recent acquisition, the details of which are discussed throughout this report. "During the first quarter, we successfully completed the system conversion of American River Banks
Bank of Marin Bancorp (NASDAQ:BMRC) and Bank of Marin, its wholly owned subsidiary, announce the retirement of Robert Heller from its board of directors effective May 13, 2024. Heller joined both Bank of Marin Bancorp and Bank of Marin boards in 2005. "It has been a great pleasure to serve on the boards of Bank of Marin and Bank of Marin Bancorp, the preeminent community banking institution of northern California, for the last two decades. During this time, the Bank grew its assets five-fold while maintaining a pristine credit quality and paying consistent dividends to its shareholders," said Heller. "The Bank showed by its strength and resilience the true value that a local community ban
The Board of Directors for Bank of Marin Bancorp (NASDAQ:BMRC), parent company of Bank of Marin, is pleased to announce the appointment of Cigdem Gencer to its board of directors. Gencer's appointment, which is effective October 20, 2023, increases the Board membership to thirteen directors. "On behalf of the board of directors and Bank, I am honored to welcome Cigdem to our team," said Willie McDevitt, board chair. "Her vast experience and perspective will add to our robust and talented team, whose commitment to the Board ranges from two to 34 years. Her appointment is significant as it demonstrates progress in our commitment to enhancing the diversity of our board." Gencer brings exte
David Bloom—30 year banking veteran—appointed as Head of Commercial Banking Office; Nikki Sloan named new Head of Growth & Strategy Bank of Marin Bancorp (NASDAQ:BMRC) and its wholly owned subsidiary, Bank of Marin, announce executive leadership changes including the appointment of David Bloom as Head of Commercial Banking and Nikki Sloan as the Head of Growth & Strategy, a newly created role at the Bank. "We are excited to take advantage of the opportunity to add depth to our leadership team. This executive leadership restructuring will help propel growth in our Commercial Banking segment, while placing intentional focus on the execution of our strategic objectives to position the Bank
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced the appointment of Nicolas (Nic) Anderson to the Company's Board of Directors. Bradley Shuster, Chairman of McGrath RentCorp's Board stated: "We are very pleased to welcome Nicolas to our Board. He is not only an accomplished leader with an extensive background as an executive in finance, he also has a strong entrepreneurial background. Nic's experience and perspective will be a valuable complement to McGrath's Board." Mr. Anderson is a founder and Managing Partner of Elm Grove Partners, an entrepreneurial private equity firm focused on control inves
Recognized for Executive Expertise and Community Leadership Bank of Marin Bancorp (NASDAQ:BMRC) has announced the retirement of Leslie E. Murphy from the Company's Boards of Directors, effective January 31, 2022. Ms. Murphy joined both Boards in 2017. "It has been an honor to serve on the Company's Boards as I have enjoyed a long history with the organization starting first as a customer and then serving on the local advisory board," said Leslie E. Murphy. "I have been proud to contribute to the Bank's growth and success and am excited to see the company continue to thrive in the years to come." During her tenure on both Boards, Ms. Murphy has been a member of the Nominating and Governan
Recognized for Communications Expertise and Community Leadership Bank of Marin Bancorp (NASDAQ:BMRC) has announced the retirement of Norma J. Howard from the Company's Boards of Directors after 25 years of service effective January 3, 2022. Ms. Howard joined the Bank of Marin Board in 1996. A longtime resident of Marin County, Ms. Howard enjoyed a 33-year career in the telecommunications industry working for Pacific Bell. In her role with the company, she acted as spokesperson for media, community relations and public affairs issues across a twenty-four county region. Since 2004, Ms. Howard has served as President of NOHOW Communications Consulting, a public affairs and public relations f
Bank of Marin today announced the retirement of Beth Reizman, Executive Vice President, Chief Credit Officer. Ms. Reizman, age 62, will retire on January 3, 2022. In the interim, on September 30, 2021, Ms. Reizman will step down from her role as Chief Credit Officer and remain on staff at Bank of Marin to facilitate a smooth transition of duties to her successor. Misako Stewart, age 53, currently Senior Vice President, Senior Credit Manager, will succeed Ms. Reizman as Executive Vice President, Chief Credit Officer. In her current role and approval authority, Ms. Stewart works closely with Ms. Reizman and is a key liaison between the Bank's commercial banking and credit administration team
NOVATO, Calif.--(BUSINESS WIRE)--The Board of Directors of Bank of Marin Bancorp (Nasdaq: BMRC), parent company of Bank of Marin, (collectively, the “Company”), today announced the appointment of Secil Tabli Watson to its Boards of Directors (collectively, the “Board”), effective April 1, 2021. Ms. Watson brings 27 years of experience in early start-up, large corporate, and management consulting environments. Her banking and financial technology expertise includes such key areas as digital customer experience, innovations in payments and cyber-fraud, and digital transformation. She was most recently an Executive Vice President and Head of Digital Solutions for Business at Wells Farg