Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, 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 $42.00 for the company and are anticipating that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 214 out of 255 based on the ratings given to related companies.
NRIM has been the subject of a number of research analyst reports. Zacks Investment Research cut Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. BidaskClub upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th.
Large investors have recently modified their holdings of the company. Heritage Trust Co bought a new stake in shares of Northrim BanCorp during the fourth quarter worth approximately $47,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Northrim BanCorp by 372.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,482 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,957 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Northrim BanCorp by 55.5% during the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,957 shares during the period. Rhumbline Advisers boosted its holdings in shares of Northrim BanCorp by 42.5% during the fourth quarter. Rhumbline Advisers now owns 9,463 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 2,824 shares during the period. Finally, John W. Rosenthal Capital Management Inc. boosted its holdings in shares of Northrim BanCorp by 165.8% during the fourth quarter. John W. Rosenthal Capital Management Inc. now owns 10,000 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 6,238 shares during the period. Institutional investors own 71.03% of the company’s stock.
Northrim BanCorp stock opened at $34.28 on Monday. Northrim BanCorp has a 52 week low of $29.66 and a 52 week high of $45.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.84. The stock has a market cap of $237.70 million, a P/E ratio of 11.99 and a beta of 0.72.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.08). Northrim BanCorp had a return on equity of 9.96% and a net margin of 20.76%. The business had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.80 million. As a group, sell-side analysts predict that Northrim BanCorp will post 2.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Wednesday, March 13th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.27. Northrim BanCorp’s payout ratio is currently 41.96%.
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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