Recent News
On October 27, 2025 the company reported third-quarter 2025 results showing net income of $7.5 million and diluted EPS of $0.47 for the quarter. On November 19, 2025 Bank of Marin announced completion of a balance-sheet repositioning, reclassification of its entire held‑to‑maturity portfolio to available‑for‑sale, sales of approximately $595 million in securities and a private placement of $45 million of 6.750% subordinated notes due 2035; the company estimated an after‑tax equity adjustment of roughly $59 million based on October 31 valuations and disclosed KBRA ratings assigned to the subordinated debt and deposits.
Technical Analysis
Directional indicators show strength: ADX at 28.52 signals a strong trend, while DI+ has a dip‑and‑reversal and DI‑ a peak‑and‑reversal, both indicating bullish directional pressure that supports the recent move above near‑term averages and aligns with the company’s operational momentum.
MACD reads 0.58 with a dip‑and‑reversal pattern and the MACD line above the 0.54 signal line, which constitutes a bullish momentum signal and reinforces the case for additional near‑term upside in price action.
MRO at 17.71 registers positive, indicating price sits above the model target and flagging a mean‑reversion risk; this tempers momentum signals by implying potential for a price pullback toward structural support if buying interest softens.
RSI at 60.12 with a dip‑and‑reversal shows momentum expanding but not yet overbought, consistent with continued upward bias while keeping watch for exhaustion signals.
Price sits at $27.83 above the 12‑day EMA ($27.30, increasing), the 20‑day average ($27.22), the 50‑day average ($25.53) and the 200‑day average ($23.11), indicating alignment across short and long moving averages. Ichimoku components (TenkanSen 27.5, KijunSen 26.5, Senkou A 24.3, Senkou B 24.25) place price above the cloud and near the TenkanSen, consistent with an established bullish posture. Bollinger bands place the price slightly above the 1× upper band (upper 1× = $27.76), signaling short‑term extension against lateral volatility constraints.
Volume at 70,820 trails the 10‑day average of 97,217 and 200‑day average of 88,178; lower-than‑average intraday participation reduces conviction behind recent moves and raises sensitivity to intraday reversals. Low 42‑day beta (0.66) and 52‑week beta (0.81) suggest the security will likely move with muted market swings relative to peers.
Fundamental Analysis
Reported EPS of $0.47 topped the $0.41 estimate, representing a 14.63% EPS surprise that supports the narrative of improving core results after the repositioning. Forward EPS stands at $0.5292 with a forward PE of 63.98, reflecting higher near‑term earnings expectations priced into shares.
Valuation multiples show mixed signals: trailing P/E at 50.55 sits above the industry peer mean of 43.00, while price‑to‑book at 0.8616 sits below the industry peer mean of 1.2457 and below the industry peer median of 1.1560 but above the industry peer low of 0.2841. Price/sales at 12.8409 sits essentially level with the industry peer mean of 12.8122. Free cash flow yield of 3.156% exceeds the industry peer mean of 2.698%, underscoring relative cash generation versus peers.
Profitability and capital efficiency metrics remain conservative. Return on assets equals 0.198% versus an industry peer mean of 0.305% and return on equity equals 1.696% versus an industry peer mean of 2.850%, both below peer means. Earnings growth measures show a 30.556% headline figure with earnings growth QoQ of 52.78% and earnings growth YoY of −91.667%, indicating sizable sequential improvement from a depressed prior‑year base. Asset turnover at 0.784% sits below the industry peer mean of 1.032%, consistent with a low‑turnover regional bank model.
Leverage remains restrained: debt‑to‑assets at 0.506% and debt‑to‑equity at 4.413% sit well below industry peer means (debt‑to‑assets mean 5.594%; debt‑to‑equity mean 50.979%), reflecting limited reliance on external debt. Cash on the balance sheet totaled $219,333,000 with operating cash flow of $12,480,000 and free cash flow of $12,069,000; the company recorded a cash flow delta of −$9,530,000 in the period. Dividend metrics show a dividend rate of $0.25, a yield of 1.052%, a payout ratio of 53.47% and dividend coverage of 1.87, consistent with maintained distribution capacity.
WMDST values the stock as fair‑valued. The EPS beat, stronger free cash flow yield versus peers and conservative leverage support that valuation; higher trailing and forward P/Es temper upside given the degree of earnings already priced into shares.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-27 |
| NEXT REPORT DATE: | 2026-01-26 |
| CASH FLOW | Begin Period Cash Flow | $ 228.9 M |
| Operating Cash Flow | $ 12.5 M | |
| Capital Expenditures | $ -411.00 K | |
| Change In Working Capital | $ 3.9 M | |
| Dividends Paid | $ -4.02 M | |
| Cash Flow Delta | $ -9.53 M | |
| End Period Cash Flow | $ 219.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 29.8 M | |
| Forward Revenue | $ 8.4 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 290.0 K | |
| Depreciation and Amortization | $ 507.0 K | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 39.1 M | |
| Interest Expense | $ 10.9 M | |
| Net Interest Income | $ 28.2 M | |
| Income Before Tax | $ 9.6 M | |
| Tax Provision | $ 2.1 M | |
| Tax Rate | 21.7 % | |
| Net Income | $ 7.5 M | |
| Net Income From Continuing Operations | $ 7.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.41 | |
| EPS Actual | $ 0.47 | |
| EPS Difference | $ 0.06 | |
| EPS Surprise | 14.634 % | |
| Forward EPS | $ 0.53 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.9 B | |
| Intangible Assets | $ 74.9 M | |
| Net Tangible Assets | $ 368.9 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 219.3 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 19.6 M | |
| Total Liabilities | $ 3.4 B | |
| EQUITY | ||
| Total Equity | $ 443.8 M | |
| Retained Earnings | $ 241.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 27.58 | |
| Shares Outstanding | 16.095 M | |
| Revenue Per-Share | $ 1.85 | |
| VALUATION | Market Capitalization | $ 382.4 M |
| Enterprise Value | $ 402.0 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 13.499 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 8.718 | |
| Asset To Liability | 1.13 | |
| Debt To Capital | 0.042 | |
| Debt To Assets | 0.005 | |
| Debt To Assets QoQ | -9.156 % | |
| Debt To Assets YoY | -14.527 % | |
| Debt To Assets IPRWA | high: 0.165 mean: 0.056 median: 0.053 BMRC: 0.005 low: 0.0 |
|
| Debt To Equity | 0.044 | |
| Debt To Equity QoQ | -6.702 % | |
| Debt To Equity YoY | 9929.545 % | |
| Debt To Equity IPRWA | high: 1.525 mean: 0.51 median: 0.455 BMRC: 0.044 low: -0.109 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.862 | |
| Price To Book QoQ | 1.436 % | |
| Price To Book YoY | 18.158 % | |
| Price To Book IPRWA | high: 2.042 mean: 1.246 median: 1.156 BMRC: 0.862 low: 0.284 |
|
| Price To Earnings (P/E) | 50.552 | |
| Price To Earnings QoQ | -21.512 % | |
| Price To Earnings YoY | -28.556 % | |
| Price To Earnings IPRWA | high: 75.793 BMRC: 50.552 mean: 43.001 median: 41.79 low: 9.669 |
|
| PE/G Ratio | 1.654 | |
| Price To Sales (P/S) | 12.841 | |
| Price To Sales QoQ | -68.158 % | |
| Price To Sales YoY | 5.706 % | |
| Price To Sales IPRWA | high: 24.051 BMRC: 12.841 mean: 12.812 median: 12.491 low: 0.117 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 63.983 | |
| Forward PE/G | 2.094 | |
| Forward P/S | 64.478 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.008 | |
| Asset Turnover Ratio QoQ | 218.699 % | |
| Asset Turnover Ratio YoY | 11.84 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 mean: 0.01 median: 0.01 BMRC: 0.008 low: 0.005 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 84.471 mean: 35.522 median: 34.679 BMRC: 0 low: -17.91 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.014 | |
| CapEx To Depreciation | -1.417 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.9 B | |
| Net Invested Capital | — | |
| Invested Capital | $ -1.47 B | |
| Net Tangible Assets | $ 368.9 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 42.239 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.87 | |
| Dividend Payout Ratio | 0.535 | |
| Dividend Rate | $ 0.25 | |
| Dividend Yield | 0.011 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.833 % | |
| Revenue Growth | 222.399 % | |
| Revenue Growth QoQ | -438.785 % | |
| Revenue Growth YoY | -152.987 % | |
| Revenue Growth IPRWA | BMRC: 222.399 % high: 21.165 % mean: 4.885 % median: 4.033 % low: -9.66 % |
|
| Earnings Growth | 30.556 % | |
| Earnings Growth QoQ | 52.78 % | |
| Earnings Growth YoY | -91.667 % | |
| Earnings Growth IPRWA | high: 63.889 % BMRC: 30.556 % median: 8.235 % mean: 7.612 % low: -37.5 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 12.1 M | |
| Free Cash Flow Yield | 3.156 % | |
| Free Cash Flow Yield QoQ | 66.193 % | |
| Free Cash Flow Yield YoY | 2.935 % | |
| Free Cash Flow Yield IPRWA | high: 9.814 % BMRC: 3.156 % mean: 2.698 % median: 2.637 % low: -3.401 % |
|
| Free Cash Growth | 70.635 % | |
| Free Cash Growth QoQ | 33.201 % | |
| Free Cash Growth YoY | -62.975 % | |
| Free Cash Growth IPRWA | high: 435.53 % BMRC: 70.635 % mean: 17.551 % median: 4.44 % low: -394.679 % |
|
| Free Cash To Net Income | 1.604 | |
| Cash Flow Margin | 26.974 % | |
| Cash Flow To Earnings | 1.067 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.06 | |
| Return On Assets (ROA) | 0.198 % | |
| Return On Assets QoQ | -187.225 % | |
| Return On Assets YoY | 62.295 % | |
| Return On Assets IPRWA | high: 0.657 % mean: 0.305 % median: 0.301 % BMRC: 0.198 % low: 0.027 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.017 | |
| Return On Equity QoQ | -187.153 % | |
| Return On Equity YoY | 62.141 % | |
| Return On Equity IPRWA | high: 0.052 median: 0.03 mean: 0.029 BMRC: 0.017 low: 0.002 |
|
| DuPont ROE | 1.706 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |