John Marshall Bancorp (JMSB)
Market Price (3/13/2026): $19.65 | Market Cap: $278.5 MilSector: Financials | Industry: Regional Banks
John Marshall Bancorp (JMSB)
Market Price (3/13/2026): $19.65Market Cap: $278.5 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1%, FCF Yield is 7.3% | Weak multi-year price returns2Y Excs Rtn is -17%, 3Y Excs Rtn is -88% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% | Key risksJMSB key risks include [1] heavy geographic business concentration in the Washington, Show more. | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34% | ||
| Low stock price volatilityVol 12M is 34% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1%, FCF Yield is 7.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34% |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -17%, 3Y Excs Rtn is -88% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2% |
| Key risksJMSB key risks include [1] heavy geographic business concentration in the Washington, Show more. |
Qualitative Assessment
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John Marshall Bancorp (JMSB) stock has remained largely at the same level since 11/30/2025 because of the following key factors:
1. Strong Q4 2025 Financial Performance: John Marshall Bancorp reported a significant increase in net income of 23.9% to $5.9 million for the fourth quarter ended December 31, 2025, compared to the same period in 2024. Diluted earnings per share (EPS) also rose by 27.3% to $0.42. The company's net interest income grew by 13.3% to $15.9 million, and its net interest margin expanded for the seventh consecutive quarter to 2.73% from 2.52% in Q4 2024, signaling robust operational health and profitability.
2. Proactive Capital Management and Shareholder Returns: The company demonstrated a commitment to shareholder value by increasing its quarterly cash dividend by 20% to $0.09 per share. Additionally, John Marshall Bancorp repurchased 135,640 shares of its common stock during 2025 at a weighted average price of $17.80, which was accretive to its book value per share, which rose 8.2% to $18.70.
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1. Strong Q4 2025 Financial Performance: John Marshall Bancorp reported a significant increase in net income of 23.9% to $5.9 million for the fourth quarter ended December 31, 2025, compared to the same period in 2024. Diluted earnings per share (EPS) also rose by 27.3% to $0.42. The company's net interest income grew by 13.3% to $15.9 million, and its net interest margin expanded for the seventh consecutive quarter to 2.73% from 2.52% in Q4 2024, signaling robust operational health and profitability.
2. Proactive Capital Management and Shareholder Returns: The company demonstrated a commitment to shareholder value by increasing its quarterly cash dividend by 20% to $0.09 per share. Additionally, John Marshall Bancorp repurchased 135,640 shares of its common stock during 2025 at a weighted average price of $17.80, which was accretive to its book value per share, which rose 8.2% to $18.70.
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Stock Movement Drivers
Fundamental Drivers
The -1.1% change in JMSB stock from 11/30/2025 to 3/12/2026 was primarily driven by a -1.1% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.91 | 19.69 | -1.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 61 | 61 | 0.0% |
| Net Income Margin (%) | 33.1% | 33.1% | 0.0% |
| P/E Multiple | 14.0 | 13.9 | -1.1% |
| Shares Outstanding (Mil) | 14 | 14 | 0.0% |
| Cumulative Contribution | -1.1% |
Market Drivers
11/30/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| JMSB | -1.1% | |
| Market (SPY) | -2.5% | 9.1% |
| Sector (XLF) | -8.4% | 34.4% |
Fundamental Drivers
The -0.2% change in JMSB stock from 8/31/2025 to 3/12/2026 was primarily driven by a -6.3% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.72 | 19.69 | -0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58 | 61 | 4.3% |
| Net Income Margin (%) | 32.5% | 33.1% | 1.8% |
| P/E Multiple | 14.8 | 13.9 | -6.3% |
| Shares Outstanding (Mil) | 14 | 14 | 0.3% |
| Cumulative Contribution | -0.2% |
Market Drivers
8/31/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| JMSB | -0.2% | |
| Market (SPY) | 3.5% | 10.8% |
| Sector (XLF) | -9.3% | 34.3% |
Fundamental Drivers
The 7.7% change in JMSB stock from 2/28/2025 to 3/12/2026 was primarily driven by a 17.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.27 | 19.69 | 7.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 61 | 17.5% |
| Net Income Margin (%) | 32.6% | 33.1% | 1.6% |
| P/E Multiple | 15.4 | 13.9 | -9.8% |
| Shares Outstanding (Mil) | 14 | 14 | 0.1% |
| Cumulative Contribution | 7.7% |
Market Drivers
2/28/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| JMSB | 7.7% | |
| Market (SPY) | 13.1% | 39.6% |
| Sector (XLF) | -5.4% | 45.4% |
Fundamental Drivers
The -22.6% change in JMSB stock from 2/28/2023 to 3/12/2026 was primarily driven by a -15.8% change in the company's P/E Multiple.| (LTM values as of) | 2282023 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.42 | 19.69 | -22.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 62 | 61 | -2.4% |
| Net Income Margin (%) | 33.7% | 33.1% | -1.8% |
| P/E Multiple | 16.5 | 13.9 | -15.8% |
| Shares Outstanding (Mil) | 14 | 14 | -4.2% |
| Cumulative Contribution | -22.6% |
Market Drivers
2/28/2023 to 3/12/2026| Return | Correlation | |
|---|---|---|
| JMSB | -22.6% | |
| Market (SPY) | 74.3% | 32.9% |
| Sector (XLF) | 43.0% | 40.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| JMSB Return | 0% | 137% | -21% | -10% | 1% | -0% | 71% |
| Peers Return | 31% | -7% | -9% | -3% | 6% | 3% | 17% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| JMSB Win Rate | 0% | 42% | 50% | 58% | 50% | 67% | |
| Peers Win Rate | 65% | 35% | 43% | 42% | 52% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| JMSB Max Drawdown | 0% | 0% | -45% | -31% | -29% | -4% | |
| Peers Max Drawdown | -1% | -15% | -45% | -27% | -26% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EGBN, BHRB, FVCB, FRST, UBSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/12/2026 (YTD)
How Low Can It Go
| Event | JMSB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -47.2% | -25.4% |
| % Gain to Breakeven | 89.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -45.4% | -33.9% |
| % Gain to Breakeven | 83.0% | 51.3% |
| Time to Breakeven | 765 days | 148 days |
Compare to EGBN, BHRB, FVCB, FRST, UBSI
In The Past
John Marshall Bancorp's stock fell -47.2% during the 2022 Inflation Shock from a high on 11/1/2022. A -47.2% loss requires a 89.5% gain to breakeven.
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About John Marshall Bancorp (JMSB)
John Marshall Bancorp, Inc. operates as the bank holding company for John Marshall Bank that provides banking products and services. The company accepts checking, savings, and money market accounts. Its loan products include overdraft lines of credit, certificate of deposit secured loans, personal term loans and lines of credit, car loans, home equity lines of credit, business loans, and mortgages. The company also provides debit and credit cards; insurance products; and treasury management, and online and mobile banking services. As of March 22, 2021, it operated eight full-service branches in Alexandria, Arlington, Loudoun, Prince William, Reston, Rockville, Tysons, and Washington, as well as a loan production office in Arlington, Virginia. John Marshall Bancorp, Inc. was founded in 2005 and is headquartered in Reston, Virginia.
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Here are 1-2 brief analogies for John Marshall Bancorp (JMSB):
- It's like PNC Bank but solely focused on commercial clients and real estate investors in the Washington D.C. metro area.
- The local, business-focused counterpart to a national bank like Bank of America or Wells Fargo, serving the D.C. metropolitan region.
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- Deposit Accounts: Services that enable individuals and businesses to save and manage their money through various checking, savings, money market, and certificate of deposit accounts.
- Commercial Loans: Providing financing solutions to businesses for real estate acquisitions, operational capital, construction, and other commercial projects.
- Treasury Management Services: A suite of cash management solutions designed to help businesses optimize their financial operations, including online banking, ACH services, and remote deposit capture.
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John Marshall Bancorp (JMSB) - Major Customers
John Marshall Bancorp (JMSB) is a bank holding company whose primary business is operating John Marshall Bank. As a community bank, it serves a diverse customer base primarily within the greater Washington D.C. metropolitan area. Banks generally do not sell to a few "major customers" that can be individually named; rather, they serve a broad array of clients across various segments.
Therefore, John Marshall Bancorp sells primarily to the following categories of customers:
- Small and Medium-Sized Businesses (SMBs) and Non-Profit Organizations: This category includes various local businesses and non-profit entities requiring commercial loans (e.g., working capital, equipment financing), lines of credit, treasury management services, and business deposit accounts.
- Commercial Real Estate (CRE) Investors and Developers: A significant portion of a community bank's lending often focuses on financing commercial real estate projects, including acquisition, development, and construction loans for investors and developers.
- Professionals and Individuals: This segment includes professionals (such as doctors, lawyers, and consultants) who require specialized banking services (e.g., practice financing) and other individual clients seeking a full range of retail banking services, including mortgages, home equity loans, personal loans, and various deposit accounts.
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Christopher W. Bergstrom, President & Chief Executive Officer
Christopher W. Bergstrom has over 42 years of experience in the banking industry. He was the founder, President, and CEO of Cardinal Bank. Following the acquisition of Cardinal Bank by United Bank, he served as President of United Bank. Mr. Bergstrom joined John Marshall Bancorp in 2018.
Kent D. Carstater, Senior Executive Vice President, Chief Financial Officer
Kent D. Carstater possesses over 25 years of financial services experience. He has served as CFO of John Marshall Bank since June 2017 and joined the bank in July 2016 as SVP of Market Risk Management. Previously, he was an SVP and Treasurer at the Bank of Georgetown. Before entering commercial banking, Mr. Carstater advised community bank executives on strategic matters, including capital offerings and mergers and acquisitions, as an investment banker. He also founded a private equity firm specializing in investments in community and regional banks.
Andrew J. Peden, Senior Executive Vice President, Chief Banking Officer
Andrew J. Peden has over 24 years of banking experience, all within the Washington, D.C. metropolitan area. He joined John Marshall Bancorp in 2018. His previous roles include Executive Vice President of Commercial Real Estate Lending at Cardinal Bank and Market Executive at United Bank.
Kelly J. Bell, Executive Vice President, Chief Operating Officer
Kelly J. Bell has more than 31 years of experience in the banking industry. She previously served as Senior Vice President, Director of Retail Banking at Cardinal Bank for three years and held various positions at Virginia Commerce Bank for 13 years.
Sheila Yosufy, Executive Vice President & Director of Sales
Sheila Yosufy was promoted to her current role from Senior Vice President, Director of Business Development.
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The public company John Marshall Bancorp (JMSB) faces several key risks inherent to the banking industry, with a particular emphasis on its concentrated market and lending activities. The most significant risks include:
- Concentration Risk (Geographic and Commercial Real Estate): John Marshall Bancorp's business is heavily concentrated in the Washington, D.C. metropolitan area, making it susceptible to the economic, political, and environmental conditions within this specific market. Furthermore, a substantial portion of the bank's loan portfolio is concentrated in commercial real estate (over 60% of the loan portfolio according to a November 2025 summary, and approximately 40.5% in owner-occupied commercial real estate loans as of December 31, 2024), increasing its exposure to fluctuations in the real estate market and potential economic downturns in the region.
- Interest Rate Risk: Changes in interest rates pose a significant risk to John Marshall Bancorp's profitability and the fair value of its financial instruments. Rising interest rates, for instance, could lead to a reduction in net interest margins and decrease the value of the bank's securities holdings.
- Credit Risk and Economic Conditions: As a lender, John Marshall Bancorp is inherently exposed to credit risk, which is the risk that borrowers may not repay their loans in a timely manner or at all, or that the value of collateral may be insufficient to cover outstanding exposures. While recent reports indicate strong asset quality with no non-performing loans or net charge-offs as of September 30, 2025, deteriorating economic conditions, either nationally or within its primary market area, including factors like higher unemployment and lower real estate values, could adversely affect loan repayment and increase credit losses.
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The increasing market penetration of FinTech lenders and digital-first challenger banks that specifically target small and medium-sized businesses. These alternative financial providers leverage advanced technology to offer more convenient, faster, and often lower-cost financial solutions, including streamlined loan applications and digital-only deposit accounts. This directly threatens John Marshall Bancorp's traditional commercial lending and deposit-gathering services by attracting business customers who prioritize speed, digital convenience, and simplified processes over traditional branch-based banking relationships.
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John Marshall Bancorp (NASDAQ: JMSB) primarily offers banking products and financial services to small to medium-sized businesses, their owners, employees, professional corporations, non-profits, and individuals. The company operates through its subsidiary, John Marshall Bank, with its headquarters in Reston, Virginia. The bank has eight full-service branches across Alexandria, Arlington, Loudoun, Prince William, Reston, and Tysons, Virginia; Rockville, Maryland; and Washington, D.C. Their primary service area is the Washington D.C. Metropolitan area, which includes parts of Maryland and all of Northern Virginia.
The main products and services offered by John Marshall Bancorp include a range of deposit accounts (checking, NOW, money market, savings, and certificates of deposit) and various lending solutions. Lending services encompass commercial real estate loans, commercial and industrial loans, residential mortgage loans, construction and development loans, commercial term loans and lines of credit, and other specialized loans for equipment and receivables. Additionally, the bank provides treasury and cash management services, debit and credit cards, and online and mobile banking.
Addressable Market Sizes for the Washington D.C. Metropolitan Area:
- Commercial Banking Market: The U.S. commercial banking market size was estimated at $732.5 billion in 2025 and is projected to reach $915.45 billion by 2030, with a compound annual growth rate (CAGR) of 4.56% from 2025 to 2030. Another estimate places the U.S. commercial banking market at $231.9 billion in 2024, expected to grow to $351.8 billion by 2033 at a CAGR of 4.10%. While specific market sizing for the Washington D.C. metropolitan area's overall commercial banking sector is not readily available as a distinct value, the region is a significant economic hub. In 2022, the DC metro area had the country's fifth-highest gross metropolitan product, at $541 billion. This indicates a substantial local market for commercial banking services within the broader U.S. figures.
- Commercial Lending Market: The global commercial lending market was valued at $8,823.53 billion in 2020 and is projected to reach $29,379.83 billion by 2030, growing at a CAGR of 13.1% from 2021 to 2030. In the U.S., commercial lending is a significant component of the commercial banking market, accounting for approximately two-fifths of the market proceeds in 2023. For the state of Virginia, commercial real estate loans represent over $67 billion in volume.
- Deposit Services Market: While a specific total market size for deposits in the Washington D.C. Metropolitan Statistical Area (MSA) is not directly stated in a single figure, data from the FDIC's Summary of Deposits provides insight into the competitive landscape. As of June 30, 2023, there were 72 banks in the Washington, D.C. MSA competing for deposits. The "accepting deposits" function accrued about 47% of the U.S. commercial banking industry size in 2023.
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John Marshall Bancorp (JMSB) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Sustained Loan Portfolio Growth: The company is anticipating a significant boost in loan commitments by 2025, with a 34% increase in gross loan production year-to-date in the third quarter of 2025. Furthermore, the total loan portfolio grew by 2.5% to $1.92 billion in the second quarter of 2025, with new commitments increasing by 40.5% over the previous quarter. This consistent growth in loan origination and commitments is a primary driver.
- Net Interest Margin (NIM) Expansion: John Marshall Bancorp expects that potential Federal Open Market Committee rate cuts and a normalizing yield curve could positively impact its performance by boosting loan demand, reducing funding costs, and improving net interest margins and profitability. The tax-equivalent net interest margin expanded to 2.70% in Q2 2025 from 2.19% in Q2 2024, primarily due to higher yields on interest-earning assets and lower rates on interest-bearing liabilities. Net interest income also increased by 18.6% in Q3 2025 compared to Q3 2024.
- Strategic Focus on Niche Markets and Business Development: The bank concentrates on local market growth by offering tailored banking services and targeting specific sectors such as commercial real estate lending, government contractor lending, health services, nonprofits and associations, professional services, property management companies, and title companies. Investments in staffing, including the hiring of five business development officers, are expected to lead to subsequent revenue increases.
- Potential for Strategic Acquisitions: Supported by a robust capital and liquidity position, JMSB is well-positioned to consider organic growth initiatives and assess potential mergers and acquisitions to drive further expansion and enhance shareholder value.
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Share Repurchases
- John Marshall Bancorp extended its stock repurchase program through August 31, 2026, authorizing the repurchase of up to 700,000 shares of its outstanding common stock.
- As of September 30, 2025, the company had completed the repurchase of 98,106 shares for $1.7 million under the buyback program announced on August 18, 2021.
- Between July 1, 2025, and September 30, 2025, the company repurchased 15,660 shares for $0.29 million.
Share Issuance
- John Marshall Bancorp reported shares issued totaling $367,000 for June 2025.
Capital Expenditures
- John Marshall Bancorp reported capital expenditures of $161,000 for June 2025.
- Annual capital expenditures were reported as -$0.483 million in 2024, -$0.612 million in 2023, and -$0.156 million in 2022.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| John Marshall Bancorp Stock Fell 5.1% in a Month, What Now? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| 02282026 | NDAQ | Nasdaq | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
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Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.09 |
| Mkt Cap | 0.5 |
| Rev LTM | 234 |
| Op Inc LTM | - |
| FCF LTM | 30 |
| FCF 3Y Avg | 44 |
| CFO LTM | 33 |
| CFO 3Y Avg | 49 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.8% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 11.1% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 32.5% |
| CFO/Rev 3Y Avg | 37.9% |
| FCF/Rev LTM | 30.7% |
| FCF/Rev 3Y Avg | 37.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.5 |
| P/S | 3.4 |
| P/EBIT | - |
| P/E | 12.1 |
| P/CFO | 11.8 |
| Total Yield | 7.6% |
| Dividend Yield | 1.6% |
| FCF Yield 3Y Avg | 8.2% |
| D/E | 0.2 |
| Net D/E | -0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.7% |
| 3M Rtn | 0.0% |
| 6M Rtn | 7.2% |
| 12M Rtn | 20.2% |
| 3Y Rtn | 12.7% |
| 1M Excs Rtn | -6.3% |
| 3M Excs Rtn | 5.7% |
| 6M Excs Rtn | 4.7% |
| 12M Excs Rtn | -0.3% |
| 3Y Excs Rtn | -73.7% |
Price Behavior
Price Behavior
| Market Price | $19.69 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 11/21/2013 | |
| Distance from 52W High | -7.5% | |
| 50 Days | 200 Days | |
| DMA Price | $20.01 | $19.40 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -1.6% | 1.5% |
| 3M | 1YR | |
| Volatility | 24.9% | 34.2% |
| Downside Capture | 16.59 | 60.33 |
| Upside Capture | -8.72 | 63.83 |
| Correlation (SPY) | 7.0% | 39.5% |
JMSB Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.60 | 0.29 | 0.10 | 0.31 | 0.71 | 1.01 |
| Up Beta | 0.41 | 1.53 | 1.46 | 0.46 | 0.75 | 1.17 |
| Down Beta | 0.82 | -0.16 | -0.07 | 0.31 | 0.82 | 0.82 |
| Up Capture | 38% | -10% | -27% | 16% | 45% | 58% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 12 | 20 | 33 | 61 | 128 | 372 |
| Down Capture | 82% | 44% | -7% | 35% | 70% | 104% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 9 | 21 | 28 | 61 | 119 | 369 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JMSB | |
|---|---|---|---|---|
| JMSB | 16.9% | 34.1% | 0.50 | - |
| Sector ETF (XLF) | 3.6% | 19.3% | 0.06 | 46.0% |
| Equity (SPY) | 21.0% | 18.9% | 0.87 | 39.6% |
| Gold (GLD) | 74.9% | 26.2% | 2.12 | -8.5% |
| Commodities (DBC) | 19.3% | 17.2% | 0.89 | 7.4% |
| Real Estate (VNQ) | 5.7% | 16.3% | 0.16 | 44.2% |
| Bitcoin (BTCUSD) | -16.1% | 44.2% | -0.27 | 17.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JMSB | |
|---|---|---|---|---|
| JMSB | -1.5% | 44.8% | 0.09 | - |
| Sector ETF (XLF) | 9.5% | 18.7% | 0.39 | 35.4% |
| Equity (SPY) | 13.2% | 17.0% | 0.61 | 30.2% |
| Gold (GLD) | 24.2% | 17.3% | 1.14 | 2.1% |
| Commodities (DBC) | 10.9% | 19.0% | 0.46 | 5.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 27.2% |
| Bitcoin (BTCUSD) | 7.3% | 56.8% | 0.35 | 13.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with JMSB | |
|---|---|---|---|---|
| JMSB | -3.9% | 44.9% | -0.05 | - |
| Sector ETF (XLF) | 12.5% | 22.2% | 0.52 | 42.9% |
| Equity (SPY) | 14.7% | 17.9% | 0.70 | 38.9% |
| Gold (GLD) | 14.6% | 15.6% | 0.77 | 5.6% |
| Commodities (DBC) | 8.8% | 17.6% | 0.41 | 13.6% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 37.5% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 17.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/28/2026 | 0.1% | 5.1% | 0.5% |
| 10/29/2025 | -2.8% | -1.3% | 4.2% |
| 7/23/2025 | 1.1% | -1.7% | 0.8% |
| 4/23/2025 | 3.3% | 11.9% | 17.3% |
| 1/29/2025 | 2.4% | 2.4% | -2.9% |
| 10/23/2024 | 1.5% | 0.5% | 3.4% |
| 7/24/2024 | 0.2% | 3.0% | 0.0% |
| 4/25/2024 | 0.0% | 0.1% | 0.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 11 |
| # Negative | 6 | 6 | 4 |
| Median Positive | 1.5% | 3.0% | 3.6% |
| Median Negative | -2.9% | -4.0% | -11.4% |
| Max Positive | 3.3% | 11.9% | 17.3% |
| Max Negative | -6.7% | -19.1% | -15.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/28/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/20/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/23/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/25/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kinney, Jonathan Craig | Direct | Buy | 12082025 | 19.63 | 500 | 9,815 | 6,392,549 | Form | |
| 2 | Kinney, Jonathan Craig | Direct | Buy | 12042025 | 19.33 | 1,345 | 26,003 | 6,286,191 | Form | |
| 3 | Kinney, Jonathan Craig | Direct | Buy | 11102025 | 18.90 | 500 | 9,450 | 6,119,952 | Form | |
| 4 | Kinney, Jonathan Craig | Direct | Buy | 11062025 | 18.95 | 400 | 7,580 | 6,111,508 | Form | |
| 5 | Kinney, Jonathan Craig | Direct | Buy | 11062025 | 18.71 | 800 | 14,965 | 6,047,862 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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