Northrim BanCorp, Inc. (NASDAQ:NRIM) has received a consensus broker rating score of 3.00 (Hold) from the one analysts 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 one year consensus price target of $40.00 for the company and are predicting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 192 out of 255 based on the ratings given to related companies.
Several equities research analysts have commented on NRIM shares. Zacks Investment Research upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. ValuEngine lowered shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub lowered shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a research note on Friday, November 15th.
In other news, Director David G. Wight purchased 650 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were bought at an average price of $39.17 per share, for a total transaction of $25,460.50. Following the completion of the purchase, the director now owns 12,650 shares of the company’s stock, valued at $495,500.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 706 shares of company stock worth $27,837 in the last 90 days. 2.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Northrim BanCorp by 13.5% during the first quarter. FMR LLC now owns 42,440 shares of the financial services provider’s stock valued at $1,460,000 after acquiring an additional 5,039 shares during the period. Strs Ohio increased its stake in shares of Northrim BanCorp by 4.9% during the second quarter. Strs Ohio now owns 17,100 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 800 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Northrim BanCorp by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 26,288 shares of the financial services provider’s stock valued at $914,000 after acquiring an additional 3,062 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Northrim BanCorp by 12.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,800 shares of the financial services provider’s stock valued at $456,000 after acquiring an additional 1,400 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Northrim BanCorp by 8.6% during the second quarter. Acadian Asset Management LLC now owns 73,597 shares of the financial services provider’s stock valued at $2,625,000 after acquiring an additional 5,822 shares during the period. Institutional investors own 71.69% of the company’s stock.
NASDAQ NRIM traded up $0.32 during trading hours on Tuesday, reaching $37.89. The company’s stock had a trading volume of 17,153 shares, compared to its average volume of 14,514. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $38.20 and a 200 day simple moving average of $36.94. Northrim BanCorp has a 52 week low of $29.66 and a 52 week high of $42.28. The stock has a market cap of $241.65 million, a PE ratio of 13.25 and a beta of 0.79.
Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Monday, October 28th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.35. Northrim BanCorp had a net margin of 20.05% and a return on equity of 10.16%. The firm had revenue of $26.82 million for the quarter, compared to analysts’ expectations of $26.10 million. As a group, equities analysts predict that Northrim BanCorp will post 2.93 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 19th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.32 annualized dividend and a dividend yield of 3.48%. Northrim BanCorp’s payout ratio is currently 46.15%.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.
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