Northrim BanCorp (NASDAQ:NRIM) Upgraded at Keefe, Bruyette & Woods

Northrim BanCorp (NASDAQ:NRIM) was upgraded by analysts at Keefe, Bruyette & Woods to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Northrim BanCorp Trading Down 2.2%

Shares of NASDAQ NRIM opened at $27.12 on Tuesday. Northrim BanCorp has a fifty-two week low of $19.60 and a fifty-two week high of $30.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. The company has a market cap of $603.42 million, a price-to-earnings ratio of 9.41 and a beta of 0.86. The business’s 50 day moving average price is $25.05 and its 200-day moving average price is $25.14.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. The company had revenue of $49.46 million during the quarter, compared to analysts’ expectations of $50.60 million. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. On average, sell-side analysts expect that Northrim BanCorp will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Northrim BanCorp

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Northrim BanCorp by 34.5% during the second quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after buying an additional 138 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Northrim BanCorp in the 4th quarter valued at $27,000. Western Wealth Management LLC purchased a new position in shares of Northrim BanCorp in the 1st quarter valued at $27,000. Quarry LP increased its holdings in shares of Northrim BanCorp by 47.7% in the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 412 shares during the period. Finally, Clearstead Advisors LLC raised its position in shares of Northrim BanCorp by 192.4% in the 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 993 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.