Northrim BanCorp, Inc. (NASDAQ:NRIM) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus price objective of $38.00 for the company and are expecting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 78 out of 255 based on the ratings given to its competitors.
A number of research analysts have commented on NRIM shares. Zacks Investment Research upgraded Northrim BanCorp from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, May 8th. BidaskClub lowered Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 22nd. Finally, ValuEngine cut shares of Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd.
Shares of NRIM traded up $0.30 during midday trading on Friday, reaching $39.55. The stock had a trading volume of 26,610 shares, compared to its average volume of 25,388. Northrim BanCorp has a 52 week low of $26.31 and a 52 week high of $40.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $271.79 million, a PE ratio of 19.39 and a beta of 0.73.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Monday, April 30th. The financial services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.16. Northrim BanCorp had a return on equity of 8.45% and a net margin of 13.47%. The company had revenue of $21.73 million for the quarter, compared to the consensus estimate of $21.50 million. equities research analysts forecast that Northrim BanCorp will post 2.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, June 7th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.43%. Northrim BanCorp’s payout ratio is currently 47.06%.
In related news, Director David J. Mccambridge bought 625 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was purchased at an average price of $40.34 per share, for a total transaction of $25,212.50. Following the completion of the transaction, the director now owns 5,740 shares in the company, valued at $231,551.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NRIM. MetLife Investment Advisors LLC bought a new position in shares of Northrim BanCorp in the fourth quarter worth about $119,000. Stone Ridge Asset Management LLC bought a new position in shares of Northrim BanCorp in the fourth quarter worth about $287,000. Wells Fargo & Company MN grew its holdings in shares of Northrim BanCorp by 20.2% in the fourth quarter. Wells Fargo & Company MN now owns 12,563 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 2,113 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Northrim BanCorp by 19.1% in the fourth quarter. Two Sigma Advisers LP now owns 17,200 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 2,758 shares during the last quarter. Finally, Acuitas Investments LLC bought a new position in shares of Northrim BanCorp in the first quarter worth about $821,000. 70.53% of the stock is currently owned by institutional investors.
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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