Our analysis is based on comparing Bank of Marin Bancorp with the following peers – Guaranty Bancorp, Western Alliance Bancorporation, SVB Financial Group, Westamerica Bancorporation, Umpqua Holdings Corporation and Heritage Commerce Corp (GBNK-US, WAL-US, SIVB-US, WABC-US, UMPQ-US and HTBK-US).
Bank of Marin Bancorp’s dividend yield is 1.67 percent and its dividend payout is 28.89 percent. This compares to a peer average dividend yield of 2.56 percent and a payout level of 46.14 percent. This relatively lagging dividend performance could spur some dividend action going forward – except the company’s current dividend quality score of 58 out of a possible score of 100 is only about average.
Dividend Quality Overview
- Over the last twelve months (prior to March 31, 2017), BMRC-US paid a medium quality dividend, which represents a yield of 1.67% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were medium quality and 3 were low quality.
- The ending cash balance, with a dividend coverage of 7.84x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to March 31, 2017), BMRC-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 4.09x), investing cash flow (coverage of 3.91x), issuance cash flow (coverage of -3.39x) and twelve-month prior cash (coverage of 6.39x), for a total dividend coverage of 12.76x.
BMRC-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -10.77x).
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||1.86||1.56||1.52||1.66||1.46||1.67|
|Dividend Payout (%)||21.34||28.4||24.32||29.61||26.98||28.89|
A complete list of metrics and analysis is available on the company page.
Bank of Marin Bancorp operates as a bank holding company. It operates through its subsidiary, the Bank of Marin, which provides financial services to customers, who are predominantly professionals, small and middle-market businesses, and individuals who work and reside in Marin, San Francisco and Sonoma counties. The company provides traditional community banking activities and wealth management and trust services. It offers personal and business checking and savings accounts; certificates of deposit, individual retirement accounts, health savings accounts, remote deposit capture, direct deposit of payroll, social security and pension checks and fraud prevention services. Bank of Marin Bancorp was founded on July 01, 2007 and is headquartered in Novato, CA.
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