Northrim BanCorp, Inc. (NASDAQ:NRIM) – Research analysts at FIG Partners lifted their FY2018 earnings per share estimates for shares of Northrim BanCorp in a report issued on Thursday, November 15th. FIG Partners analyst B. Martin now forecasts that the financial services provider will earn $2.95 per share for the year, up from their previous estimate of $2.85. FIG Partners also issued estimates for Northrim BanCorp’s Q4 2018 earnings at $0.77 EPS, Q1 2019 earnings at $0.69 EPS, Q2 2019 earnings at $0.83 EPS, Q3 2019 earnings at $0.90 EPS and Q4 2019 earnings at $0.91 EPS.

A number of other equities analysts have also weighed in on the company. BidaskClub lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research lowered Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, ValuEngine lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th.

NASDAQ NRIM opened at $37.01 on Friday. The stock has a market capitalization of $249.21 million, a PE ratio of 18.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.83. Northrim BanCorp has a twelve month low of $32.60 and a twelve month high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $24.49 million during the quarter, compared to analysts’ expectations of $24.10 million. Northrim BanCorp had a return on equity of 9.28% and a net margin of 16.25%.

In other Northrim BanCorp news, Director Karl L. Hanneman acquired 700 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $37.80 per share, with a total value of $26,460.00. Following the completion of the purchase, the director now directly owns 4,900 shares in the company, valued at approximately $185,220. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David G. Wight sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $44.15, for a total value of $88,300.00. Following the completion of the transaction, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $507,725. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Northrim BanCorp by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,174 shares of the financial services provider’s stock valued at $126,000 after buying an additional 2,311 shares during the last quarter. John W. Rosenthal Capital Management Inc. bought a new position in Northrim BanCorp during the third quarter valued at approximately $155,000. Meeder Asset Management Inc. boosted its stake in Northrim BanCorp by 231.4% during the second quarter. Meeder Asset Management Inc. now owns 5,246 shares of the financial services provider’s stock valued at $207,000 after buying an additional 3,663 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in Northrim BanCorp by 55.5% during the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,957 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Northrim BanCorp by 21.2% during the second quarter. First Trust Advisors LP now owns 9,714 shares of the financial services provider’s stock valued at $384,000 after buying an additional 1,699 shares during the last quarter. 70.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Company Profile

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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Earnings History and Estimates for Northrim BanCorp (NASDAQ:NRIM)

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