Northrim BanCorp Inc. (NASDAQ:NRIM) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus price objective of $28.00 for the company and are forecasting that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also given Northrim BanCorp an industry rank of 178 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th.
Several hedge funds and other institutional investors have recently made changes to their positions in NRIM. American International Group Inc. bought a new position in shares of Northrim BanCorp during the second quarter worth about $102,000. Nationwide Fund Advisors increased its position in Northrim BanCorp by 930.0% in the second quarter. Nationwide Fund Advisors now owns 4,573 shares of the financial services provider’s stock valued at $120,000 after buying an additional 4,129 shares during the last quarter. Springbok Capital Management LLC increased its position in Northrim BanCorp by 54.4% in the first quarter. Springbok Capital Management LLC now owns 5,714 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,014 shares during the last quarter. Acrospire Investment Management LLC increased its position in Northrim BanCorp by 112.7% in the second quarter. Acrospire Investment Management LLC now owns 6,280 shares of the financial services provider’s stock valued at $165,000 after buying an additional 3,327 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Northrim BanCorp by 687.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,981 shares of the financial services provider’s stock valued at $184,000 after buying an additional 6,094 shares during the last quarter. Institutional investors own 67.80% of the company’s stock.
Northrim BanCorp (NASDAQ:NRIM) opened at 25.75 on Tuesday. The stock has a market capitalization of $177.21 million, a P/E ratio of 10.43 and a beta of 0.39. The firm’s 50 day moving average is $25.62 and its 200 day moving average is $25.90. Northrim BanCorp has a 1-year low of $21.60 and a 1-year high of $29.75.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Monday, August 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. Northrim BanCorp had a net margin of 16.59% and a return on equity of 9.58%. On average, equities research analysts anticipate that Northrim BanCorp will post $2.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Thursday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 13th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.11%. Northrim BanCorp’s payout ratio is 32.39%.
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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