Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have earned an average 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.

Analysts have set a 1 year consensus price target of $44.00 for the company and are anticipating that the company will post $0.74 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 86 out of 255 based on the ratings given to related companies.

A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research cut shares of Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th.

In other Northrim BanCorp news, Director John C. Swalling bought 625 shares of Northrim BanCorp stock in a transaction on Friday, August 3rd. The stock was purchased at an average cost of $41.38 per share, for a total transaction of $25,862.50. Following the completion of the purchase, the director now directly owns 4,726 shares of the company’s stock, valued at $195,561.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David G. Wight sold 2,000 shares of Northrim BanCorp stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $44.15, for a total transaction of $88,300.00. Following the completion of the sale, the director now owns 11,500 shares of the company’s stock, valued at $507,725. The disclosure for this sale can be found here. Insiders acquired 1,705 shares of company stock valued at $71,190 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Northrim BanCorp by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,174 shares of the financial services provider’s stock worth $126,000 after buying an additional 2,311 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Northrim BanCorp by 231.4% in the second quarter. Meeder Asset Management Inc. now owns 5,246 shares of the financial services provider’s stock worth $207,000 after buying an additional 3,663 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Northrim BanCorp by 21.2% in the second quarter. First Trust Advisors LP now owns 9,714 shares of the financial services provider’s stock worth $384,000 after buying an additional 1,699 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Northrim BanCorp by 12.0% in the second quarter. Russell Investments Group Ltd. now owns 14,953 shares of the financial services provider’s stock worth $590,000 after buying an additional 1,599 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Northrim BanCorp in the second quarter worth $772,000. Institutional investors and hedge funds own 70.57% of the company’s stock.

Shares of Northrim BanCorp stock traded down $0.25 during trading on Friday, hitting $39.68. The stock had a trading volume of 851 shares, compared to its average volume of 16,934. The company has a market cap of $285.57 million, a P/E ratio of 19.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.82. Northrim BanCorp has a 1 year low of $31.85 and a 1 year high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, July 30th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.62 by $0.22. The business had revenue of $23.30 million during the quarter, compared to analysts’ expectations of $23.10 million. Northrim BanCorp had a net margin of 15.84% and a return on equity of 9.52%. On average, analysts expect that Northrim BanCorp will post 2.85 EPS for the current fiscal year.

About Northrim BanCorp

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.

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