Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have been assigned an average 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 rating.
Analysts have set a 12 month consensus target price of $44.00 for the company and are anticipating that the company will post $0.70 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 70 out of 255 based on the ratings given to related companies.
NRIM has been the subject of several research analyst reports. BidaskClub downgraded Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research downgraded Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th.
NASDAQ NRIM traded down $0.46 on Monday, hitting $38.04. 11,100 shares of the stock were exchanged, compared to its average volume of 16,724. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $264.61 million, a price-to-earnings ratio of 18.65 and a beta of 0.76. Northrim BanCorp has a 52-week low of $32.23 and a 52-week high of $45.40.
Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Monday, October 29th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Northrim BanCorp had a return on equity of 9.37% and a net margin of 16.25%. The business had revenue of $24.49 million during the quarter, compared to the consensus estimate of $24.10 million. Equities research analysts anticipate that Northrim BanCorp will post 2.85 EPS for the current year.
In other Northrim BanCorp news, Director Karl L. Hanneman bought 700 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $37.80 per share, for a total transaction of $26,460.00. Following the completion of the transaction, the director now owns 4,900 shares in the company, valued at $185,220. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director David G. Wight sold 2,000 shares of Northrim BanCorp stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $44.15, for a total value of $88,300.00. Following the sale, the director now owns 11,500 shares of the company’s stock, valued at $507,725. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in NRIM. Renaissance Technologies LLC lifted its position in shares of Northrim BanCorp by 68.8% during the second quarter. Renaissance Technologies LLC now owns 150,800 shares of the financial services provider’s stock worth $5,964,000 after purchasing an additional 61,482 shares during the last quarter. Acuitas Investments LLC raised its holdings in shares of Northrim BanCorp by 227.0% in the second quarter. Acuitas Investments LLC now owns 77,669 shares of the financial services provider’s stock valued at $3,072,000 after acquiring an additional 53,915 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Northrim BanCorp in the second quarter valued at about $1,882,000. The Manufacturers Life Insurance Company raised its holdings in shares of Northrim BanCorp by 16.4% in the first quarter. The Manufacturers Life Insurance Company now owns 260,913 shares of the financial services provider’s stock valued at $9,014,000 after acquiring an additional 36,793 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Northrim BanCorp by 42.7% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 87,799 shares of the financial services provider’s stock valued at $3,472,000 after acquiring an additional 26,292 shares in the last quarter. Institutional investors and hedge funds own 70.75% of the company’s stock.
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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