Shares of Northrim BanCorp Inc (NASDAQ:NRIM) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Analysts have set a twelve-month consensus price objective of $32.00 for the company and are forecasting that the company will post $0.95 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 102 out of 265 based on the ratings given to related companies.
Separately, ValuEngine raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRIM. Teachers Advisors LLC grew its position in Northrim BanCorp by 8.2% in the 4th quarter. Teachers Advisors LLC now owns 11,713 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 887 shares in the last quarter. Bank of New York Mellon Corp grew its position in Northrim BanCorp by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 40,405 shares of the financial services provider’s stock valued at $1,215,000 after acquiring an additional 2,340 shares in the last quarter. Ameriprise Financial Inc. grew its position in Northrim BanCorp by 16.5% in the 1st quarter. Ameriprise Financial Inc. now owns 299,968 shares of the financial services provider’s stock valued at $9,014,000 after acquiring an additional 42,405 shares in the last quarter. American International Group Inc. grew its position in Northrim BanCorp by 6.9% in the 1st quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 267 shares in the last quarter. Finally, AXA grew its position in Northrim BanCorp by 5.9% in the 1st quarter. AXA now owns 17,900 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 1,000 shares in the last quarter. 71.15% of the stock is owned by institutional investors.
Shares of Northrim BanCorp (NASDAQ NRIM) traded down 0.223% during mid-day trading on Thursday, hitting $33.575. 9,245 shares of the stock were exchanged. The stock has a market cap of $232.00 million, a price-to-earnings ratio of 16.704 and a beta of 0.59. The company has a 50-day moving average price of $28.87 and a 200-day moving average price of $29.86. Northrim BanCorp has a 12 month low of $24.35 and a 12 month high of $34.10.
Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $23.96 million during the quarter, compared to the consensus estimate of $24.70 million. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. Equities analysts expect that Northrim BanCorp will post $2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, September 7th were given a $0.22 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, September 6th. Northrim BanCorp’s payout ratio is currently 43.78%.
About Northrim BanCorp
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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