Is Bank of Marin Bancorp overvalued or undervalued?

As of 17 October 2025, the valuation grade for Bank of Marin Bancorp has moved from expensive to fair. The company appears to be fairly valued given its current metrics, particularly with a Price to Book Value of 0.82, an EV to Sales ratio of 0.62, and an EV to Capital Employed ratio of 0.54. In comparison to peers, Five Star Bancorp has a P/E ratio of 13.58, while Mid Penn Bancorp, Inc. stands at 12.76, indicating that Bank of Marin Bancorp is positioned more favorably within its industry.
Despite the fair valuation, the company's stock has underperformed against the S&P 500, with a year-to-date return of -4.46% compared to the index's 13.30%. This trend has been consistent over longer periods, with a three-year return of -30.91% against the S&P 500's 81.19%.