Northrim BanCorp Inc. (NRIM) Lifted to Hold at Zacks Investment Research
According to Zacks, “Northrim BanCorp, Inc. is a full-service commercial bank that provides a full range of personal and business banking services. “
Shares of Northrim BanCorp (NASDAQ:NRIM) opened at 25.05 on Tuesday. The firm has a market capitalization of $172.39 million, a P/E ratio of 10.14 and a beta of 0.43. Northrim BanCorp has a 52 week low of $21.60 and a 52 week high of $29.75. The stock has a 50 day moving average price of $25.57 and a 200 day moving average price of $26.01.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, August 1st. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.01. Northrim BanCorp had a return on equity of 9.58% and a net margin of 16.59%. Analysts forecast that Northrim BanCorp will post $2.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Thursday, September 15th were paid a $0.20 dividend. 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 annualized dividend and a yield of 3.19%. Northrim BanCorp’s payout ratio is currently 32.39%.
A number of hedge funds have recently bought and sold shares of NRIM. American International Group Inc. acquired a new stake in Northrim BanCorp during the second quarter valued at $102,000. Nationwide Fund Advisors increased its stake 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 in the last quarter. Springbok Capital Management LLC increased its stake 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 in the last quarter. Acrospire Investment Management LLC increased its stake 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake 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 in the last quarter. 67.80% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Northrim BanCorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.