Bank of Marin Bancorp : BMRC-US: Dividend Analysis : November 03rd, 2017 (record date) : By the numbers : November 3, 2017

Our analysis is based on comparing Bank of Marin Bancorp with the following peers – Western Alliance Bancorporation, Guaranty Bancorp, Westamerica Bancorporation, Heritage Commerce Corp, SVB Financial Group and Umpqua Holdings Corporation (WAL-US, GBNK-US, WABC-US, HTBK-US, SIVB-US and UMPQ-US).

Bank of Marin Bancorp’s dividend yield is 2.01 percent and its dividend payout is 32.93 percent. This compares to a peer average dividend yield of 2.52 percent and a payout level of 43.75 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 Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to September 30, 2017), BMRC-US paid a medium quality dividend, which represents a yield of 1.59% 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.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to September 30, 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 15.58x), for a total dividend coverage of 24.96x.

BMRC-US’s issuance cash flow includes outflows from net debt repayment (coverage of -10.77x).

Dividend Coverage by Cash Flow (TTM)

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 History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 1.86 1.56 1.52 1.66 1.46 2.01
Dividend Payout (%) 21.34 28.4 24.32 29.61 26.98 32.93

A complete list of metrics and analysis is available on the company page.

Company Profile

Bank of Marin Bancorp is a bank holding company. The firm operates through the Bank of Marin, which engages in the provision financial services to customers. It offers traditional community banking activities and wealth management and trust services; 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. The company was founded on July 1, 2007 and is headquartered in Novato, CA.


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