Northrim BanCorp Inc to Post FY2017 Earnings of $2.14 Per Share, FIG Partners Forecasts (NASDAQ:NRIM)
Northrim BanCorp Inc (NASDAQ:NRIM) – Investment analysts at FIG Partners lifted their FY2017 EPS estimates for Northrim BanCorp in a research note issued to investors on Monday. FIG Partners analyst B. Martin now expects that the financial services provider will post earnings of $2.14 per share for the year, up from their previous estimate of $2.00. FIG Partners also issued estimates for Northrim BanCorp’s Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.00 EPS.
Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. Northrim BanCorp had a return on equity of 8.38% and a net margin of 14.15%. The company had revenue of $23.96 million for the quarter, compared to analyst estimates of $24.70 million.
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Separately, ValuEngine raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Tuesday.
Shares of Northrim BanCorp (NASDAQ:NRIM) opened at 27.85 on Wednesday. The company’s 50 day moving average price is $29.78 and its 200 day moving average price is $29.93. The company has a market cap of $192.44 million, a price-to-earnings ratio of 13.86 and a beta of 0.59. Northrim BanCorp has a 12 month low of $24.35 and a 12 month high of $33.00.
Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Northrim BanCorp by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 495,552 shares of the financial services provider’s stock valued at $14,891,000 after buying an additional 16,446 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Northrim BanCorp by 16.5% in the first quarter. Ameriprise Financial Inc. now owns 299,968 shares of the financial services provider’s stock valued at $9,014,000 after buying an additional 42,405 shares during the last quarter. Vanguard Group Inc. boosted its stake in Northrim BanCorp by 11.1% in the first quarter. Vanguard Group Inc. now owns 239,132 shares of the financial services provider’s stock valued at $7,186,000 after buying an additional 23,806 shares during the last quarter. LSV Asset Management boosted its stake in Northrim BanCorp by 7.8% in the second quarter. LSV Asset Management now owns 171,167 shares of the financial services provider’s stock valued at $5,203,000 after buying an additional 12,322 shares during the last quarter. Finally, FMR LLC boosted its stake in Northrim BanCorp by 467.6% in the first quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock valued at $4,708,000 after buying an additional 129,069 shares during the last quarter. 71.36% of the stock is currently owned by institutional investors.
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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