Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokers have set a one year consensus price objective of $40.00 for the company and are forecasting that the company will post $0.77 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 54 out of 257 based on the ratings given to related companies.

A number of equities analysts have recently commented on NRIM shares. Zacks Investment Research upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Saturday, November 17th. BidaskClub lowered shares of Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, ValuEngine lowered shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th.

In related news, Director Karl L. Hanneman bought 700 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was acquired at an average cost of $37.80 per share, for a total transaction of $26,460.00. Following the completion of the transaction, the director now directly owns 4,900 shares in the company, valued at approximately $185,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of 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 worth $126,000 after acquiring an additional 2,311 shares in the last quarter. John W. Rosenthal Capital Management Inc. purchased a new position in shares of Northrim BanCorp during the third quarter worth approximately $155,000. Meeder Asset Management Inc. raised its stake in shares of 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 worth $207,000 after acquiring an additional 3,663 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of Northrim BanCorp by 55.5% in the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock worth $228,000 after buying an additional 1,957 shares during the period. Finally, First Trust Advisors LP increased 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 period. Institutional investors and hedge funds own 70.94% of the company’s stock.

Shares of NRIM stock traded down $0.92 during trading hours on Wednesday, reaching $35.50. The stock had a trading volume of 12,063 shares, compared to its average volume of 10,220. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. Northrim BanCorp has a 12 month low of $32.60 and a 12 month high of $45.40. The firm has a market capitalization of $251.07 million, a P/E ratio of 17.40 and a beta of 0.74.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Northrim BanCorp had a net margin of 16.25% and a return on equity of 9.28%. The company had revenue of $24.49 million during the quarter, compared to analyst estimates of $24.10 million. Sell-side analysts predict that Northrim BanCorp will post 2.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Thursday, December 13th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, December 12th. This represents a $1.08 annualized dividend and a yield of 3.04%. Northrim BanCorp’s payout ratio is presently 52.94%.

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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