Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokerages have set a 12-month consensus price objective of $40.00 for the company and are anticipating that the company will post $0.69 EPS for the current quarter, according to Zacks. Zacks has also given Northrim BanCorp an industry rank of 156 out of 255 based on the ratings given to related companies.
NRIM has been the subject of a number of recent research reports. Zacks Investment Research cut Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine cut Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, BidaskClub cut Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Saturday, December 1st.
In related news, Director Linda C. Thomas bought 700 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was purchased at an average price of $35.80 per share, for a total transaction of $25,060.00. Following the acquisition, the director now owns 3,090 shares in the company, valued at $110,622. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 1,970 shares of company stock valued at $69,759. Company insiders own 2.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in NRIM. Heritage Trust Co purchased a new position in shares of Northrim BanCorp in the 4th quarter worth approximately $47,000. John W. Rosenthal Capital Management Inc. purchased a new position in Northrim BanCorp during the 3rd quarter valued at $155,000. MetLife Investment Advisors LLC boosted its holdings in Northrim BanCorp by 55.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,957 shares during the period. Rhumbline Advisers boosted its holdings in Northrim BanCorp by 42.5% during the 4th quarter. Rhumbline Advisers now owns 9,463 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 2,824 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Northrim BanCorp during the 3rd quarter valued at $490,000. Hedge funds and other institutional investors own 69.15% of the company’s stock.
NASDAQ:NRIM opened at $37.36 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.87. Northrim BanCorp has a 1 year low of $29.66 and a 1 year high of $45.40. The company has a market capitalization of $253.39 million, a price-to-earnings ratio of 13.06 and a beta of 0.68.
Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.08). The company had revenue of $23.86 million during the quarter, compared to analysts’ expectations of $23.80 million. Northrim BanCorp had a return on equity of 10.04% and a net margin of 20.76%. On average, equities analysts expect that Northrim BanCorp will post 3.33 earnings per share for the current fiscal year.
About Northrim BanCorp
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.
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