Northrim BanCorp, Inc. (NASDAQ:NRIM) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a one year consensus price target of $36.00 for the company and are forecasting that the company will post $0.76 EPS for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 193 out of 255 based on the ratings given to its competitors.
A number of analysts have weighed in on NRIM shares. ValuEngine lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Northrim BanCorp from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub lowered Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday.
Shares of NASDAQ NRIM traded down $0.30 during trading hours on Thursday, reaching $37.08. The stock had a trading volume of 13,101 shares, compared to its average volume of 15,003. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.16. The firm has a market cap of $249.76 million, a price-to-earnings ratio of 12.97 and a beta of 0.82. The business’s fifty day moving average price is $38.34 and its two-hundred day moving average price is $35.97. Northrim BanCorp has a 52-week low of $29.66 and a 52-week high of $42.72.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $25.53 million during the quarter, compared to analysts’ expectations of $24.50 million. Northrim BanCorp had a net margin of 18.42% and a return on equity of 9.07%. Equities research analysts anticipate that Northrim BanCorp will post 2.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.32 dividend on an annualized basis and a yield of 3.56%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.30. Northrim BanCorp’s dividend payout ratio is currently 46.15%.
A number of institutional investors have recently bought and sold shares of NRIM. Renaissance Technologies LLC lifted its holdings in Northrim BanCorp by 11.4% during the second quarter. Renaissance Technologies LLC now owns 186,100 shares of the financial services provider’s stock worth $6,636,000 after buying an additional 19,100 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in Northrim BanCorp by 21.3% during the first quarter. Pacific Ridge Capital Partners LLC now owns 90,271 shares of the financial services provider’s stock worth $3,107,000 after buying an additional 15,861 shares during the period. AJO LP lifted its holdings in Northrim BanCorp by 15.6% during the first quarter. AJO LP now owns 67,218 shares of the financial services provider’s stock worth $2,314,000 after buying an additional 9,087 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in Northrim BanCorp by 9.2% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 94,895 shares of the financial services provider’s stock worth $3,764,000 after buying an additional 7,975 shares during the period. Finally, Acadian Asset Management LLC increased its position 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 worth $2,625,000 after purchasing an additional 5,822 shares in the last quarter. Institutional investors own 71.14% of the company’s stock.
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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