ValuEngine Lowers Northrim BanCorp (NRIM) to Hold

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ValuEngine lowered shares of Northrim BanCorp (NASDAQ:NRIM) from a buy rating to a hold rating in a research note released on Tuesday.

A number of other analysts also recently issued reports on the company. BidaskClub downgraded Northrim BanCorp from a buy rating to a hold rating in a report on Friday, October 19th. Zacks Investment Research downgraded Northrim BanCorp from a strong-buy rating to a hold rating in a report on Thursday, October 4th.

Shares of NASDAQ NRIM opened at $37.75 on Tuesday. The stock has a market cap of $261.52 million, a price-to-earnings ratio of 18.50 and a beta of 0.76. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Northrim BanCorp has a 1 year low of $32.23 and a 1 year high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.13. The company had revenue of $24.49 million during the quarter, compared to the consensus estimate of $24.10 million. Northrim BanCorp had a return on equity of 9.37% and a net margin of 16.25%. On average, equities research analysts expect that Northrim BanCorp will post 2.85 EPS for the current fiscal year.

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

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Northrim BanCorp by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 577,680 shares of the financial services provider’s stock valued at $19,959,000 after purchasing an additional 1,905 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Northrim BanCorp by 0.6% in the 3rd quarter. BlackRock Inc. now owns 527,600 shares of the financial services provider’s stock valued at $21,923,000 after purchasing an additional 3,331 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Northrim BanCorp by 68.8% in the 2nd quarter. Renaissance Technologies LLC now owns 150,800 shares of the financial services provider’s stock valued at $5,964,000 after purchasing an additional 61,482 shares during the last quarter. Acuitas Investments LLC lifted its holdings in shares of Northrim BanCorp by 52.1% in the 3rd quarter. Acuitas Investments LLC now owns 118,139 shares of the financial services provider’s stock valued at $4,909,000 after purchasing an additional 40,470 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of Northrim BanCorp by 42.7% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 87,799 shares of the financial services provider’s stock valued at $3,472,000 after purchasing an additional 26,292 shares during the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.

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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