JMSB
John Marshall Bancorp, Inc.Financial Services·Banks - Regional
$21.27
$300M market cap
Revenue
$58.7M
Free Cash Flow
$15.4M
Rev Growth
+0.0%
FCF Margin
26.2%
P/FCF
19.5x
EV/FCF
24.5x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
John Marshall Bancorp, Inc. operates as the bank holding company for John Marshall Bank that provides banking products and financial services. The company accepts checking, demand, NOW, savings, and money market accounts, as well as certificates of deposit. It offers commercial, construction and development, commercial term, mortgage, commercial real estate, industrial other commercial lines of credit; debit and credit cards; and treasury and cash management, investment, business and personal in
2-Year Price History
$21.06+31.7%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 29.1 | 7.6 | 7.6 | 6.1 | 8.5 | 8.5 | -0.0 | 9.1 | 85.4 | 14.1 | 13.4% | 0.6x | -- |
| Act | 2025-Q4 | 29.6 | 7.8 | 7.8 | 5.9 | 6.9 | 6.9 | -0.0 | 147.3 | 85.7 | 14.1 | 13.8% | 0.6x | -- |
Valuation & Metrics
Market Stats
Price$21.27
Market Cap$300M
Enterprise Value$376M
P/S Ratio5.1x
P/FCF19.5x
EV/FCF24.5x
FCF Margin (TTM)26.2%
FCF Yield5.1%
Dividend Yield (TTM)2.3%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$58.7M
Net Income$12.0M
Free Cash Flow$15.4M
Revenue Growth (YoY)+0.0%
EBITDA Margin26.1%
Net Margin20.5%
FCF Margin26.2%
CapEx % of Revenue0.0%
SBC % of Revenue0.3%
ROIC13.6%
WC Change % Rev-3.9%
Interest Coverage0.6x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.1M
Days to Cover1.7
Change (vs Prior)-8.6%
Need at least 2 settlement dates for chart
Employees
Headcount136
Revenue / Employee$431,287
Gross Profit / Employee$237,015
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
31.6%(+8.1% YoY)
66 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
14.8%(+2.9% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
0.1%(-0.1% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| T. Rowe Price Investment Management, Inc. | $39.9M | $22.12 | +$58K | +$158K | -1.3% | $145.22B |
| BlackRock, Inc.Passive | $17.8M | $19.31 | +$75K | −$476K | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $10.9M | $20.19 | +$10.8M | +$10.9M | — | $4.04T |
| FJ Capital Management LLC | $8.4M | $17.44 | −$14K | +$1.9M | -0.8% | $888M |
| TOTH FINANCIAL ADVISORY CORP | $7.5M | $21.41 | −$118K | −$972K | -0.3% | $911M |
| EVERMAY WEALTH MANAGEMENT LLC | $7.1M | $21.42 | +$31K | +$324K | -0.1% | $902M |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $6.0M | $20.73 | −$1K | +$77K | +2.3% | $1.61T |
| STATE STREET CORPPassive | $4.4M | $21.55 | +$85K | +$135K | -0.2% | $2.89T |
| BANK OF AMERICA CORP /DE/ | $4.2M | $20.16 | −$755K | −$1.1M | -0.1% | $1.36T |
| MAI Capital Management | $4.0M | $19.53 | +$0 | −$504K | -0.1% | $17.61B |
| Rhino Investment Partners, Inc | $2.4M | $19.84 | +$479K | +$2.4M | -0.4% | $359M |
| BROWN ADVISORY INC | $2.2M | $21.22 | +$0 | −$143K | -0.5% | $60.79B |
| Fourthstone LLC | $2.2M | $18.71 | −$75K | +$2.2M | -1.8% | $590M |
| Elizabeth Park Capital Advisors, Ltd. | $2.1M | $21.44 | +$0 | −$690K | -1.0% | $130M |
| Cresset Asset Management, LLC | $2.1M | $20.38 | +$31K | +$31K | -0.0% | $23.10B |
| NORTHERN TRUST CORPPassive | $2.0M | $21.25 | +$72K | −$170K | -0.2% | $755.34B |
| VANGUARD FIDUCIARY TRUST COPassive | $1.6M | $20.19 | +$1.6M | +$1.6M | — | $395.83B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $1.5M | $20.19 | +$1.5M | +$1.5M | — | $1.91T |
| Wealthspire Advisors, LLC | $1.3M | $20.13 | +$1.2M | +$1.3M | -0.3% | $12.72B |
| Meridian Financial Partners LLC | $1.2M | $21.44 | +$0 | +$0 | +0.2% | $263M |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.79%
avg per quarter
Holders (ex-self)
-0.78%
excl. this stock
Buyers (this Q)
-0.27%
41 buyers · $0.02B in
Sellers (this Q)
-0.19%
20 sellers · $0.00B out
alpha coverage: 90% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+5.9%
how holders react when this stock falls
On quiet Qs
+4.5%
−10% to +10% baseline
On rallies (+10%+)
-0.6%
how they react when this stock rises
Holders' portfolio flow this Q
-0.3%
outflows — trims may be forced
Sellers' portfolio flow this Q
+4.9%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-4.6%
Holder mid (any stock)
-2.9%
Holder rally (any stock)
-6.2%
Biggest decreases this quarter
BANK OF AMERICA CORP /DE/−$755Kα-0.1WEALTH ENHANCEMENT ADVISORY SERVICES, LLCexited−$324KMILLENNIUM MANAGEMENT LLCexited−$262KTOTH FINANCIAL ADVISORY CORP−$118Kα-0.3Hingham Institution for Savingsexited−$100KFourthstone LLC−$75Kα-1.8Bank of New York Mellon Corp−$25Kα-0.2FJ Capital Management LLC−$14Kα-0.8AMALGAMATED BANKexited−$8KCovestor Ltdexited−$2K
New buyers this quarter
Top-5 holders · 60.5%
T. Rowe Price Investment Management, Inc.--
BlackRock, Inc.--
VANGUARD CAPITAL MANAGEMENT LLC--
FJ Capital Management LLC--
TOTH FINANCIAL ADVISORY CORP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
T. Rowe Price Investment Management, Inc.2.0MPRICE T ROWE ASSOCIATES INC /MD/—TOTH FINANCIAL ADVISORY CORP369KEVERMAY WEALTH MANAGEMENT LLC350KFJ Capital Management LLC412KBANK OF AMERICA CORP /DE/207KElizabeth Park Capital Advisors, Ltd.105KMAI Capital Management198KBROWN ADVISORY INC108KRhino Investment Partners, Inc119K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$24.001280.0%
Last Year (1 analysts)$24.001280.0%
Current Price$21.27
Analyst Ratings
1
Buy: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$499K
19 txns · 4 insiders · 26,596 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2025-12-05 | BUY | Kinney Jonathan Craig | director | 500 | $19.63 | $10K | $6.39M |
| 2025-12-02 | BUY | Kinney Jonathan Craig | director | 1,345 | $19.33 | $26K | $6.29M |
| 2025-11-06 | BUY | Kinney Jonathan Craig | director | 500 | $18.90 | $9K | $6.12M |
| 2025-11-05 | BUY | Kinney Jonathan Craig | director | 800 | $18.71 | $15K | $6.05M |
| 2025-11-04 | BUY | Kinney Jonathan Craig | director | 400 | $18.95 | $8K | $6.11M |
| 2025-10-31 | BUY | Kinney Jonathan Craig | director | 500 | $18.85 | $9K | $6.07M |
| 2025-07-31 | BUY | Carstater Kent | officer: CHIEF FINANCIAL OFFICER | 5,000 | $18.43 | $92K | $979K |
| 2025-07-30 | BUY | GARCIA MICHAEL A | director | 6,162 | $19.20 | $118K | $660K |
| 2025-07-29 | BUY | GARCIA MICHAEL A | director | 4,276 | $19.20 | $82K | $542K |
| 2025-07-28 | BUY | GARCIA MICHAEL A | director | 2,747 | $19.11 | $53K | $457K |
| 2025-07-15 | BUY | Mahan Oscar Leland | director | 712 | $18.63 | $13K | $1.73M |
| 2025-06-12 | BUY | Kinney Jonathan Craig | director | 700 | $17.36 | $12K | $5.58M |
| 2025-06-11 | BUY | Kinney Jonathan Craig | director | 200 | $17.58 | $4K | $5.64M |
| 2025-06-06 | BUY | Kinney Jonathan Craig | director | 250 | $17.70 | $4K | $5.68M |
| 2025-06-05 | BUY | Kinney Jonathan Craig | director | 900 | $17.27 | $16K | $5.54M |
| 2025-06-03 | BUY | Kinney Jonathan Craig | director | 204 | $17.47 | $4K | $5.58M |
| 2025-06-02 | BUY | Kinney Jonathan Craig | director | 452 | $17.40 | $8K | $5.56M |
| 2025-05-30 | BUY | Kinney Jonathan Craig | director | 148 | $17.31 | $3K | $5.52M |
| 2025-05-28 | BUY | Kinney Jonathan Craig | director | 800 | $17.47 | $14K | $5.57M |
Order Flow (FINRA, ~3w lag)
11.7%retail-19.5pp
22.4%dark+6.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
John Marshall Bancorp: Regulatory Compliance Shell Lacks Substantive Red Flags
Overall Risk
3/10
Fraud
1/10
Dilution
2/10
Insolvency
2/10
Earnings Overstated
1/10
Hidden Liabilities
1/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10