Northrim BanCorp (NASDAQ:NRIM) Announces Quarterly Earnings Results

Northrim BanCorp (NASDAQ:NRIM) released its quarterly earnings results on Friday. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72, Zacks reports. Northrim BanCorp had a net margin of 17.79% and a return on equity of 13.31%.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $80.17 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. Northrim BanCorp has a 1 year low of $43.92 and a 1 year high of $91.72. The company’s 50-day moving average is $80.86 and its 200 day moving average is $72.36. The stock has a market capitalization of $440.94 million, a P/E ratio of 13.68 and a beta of 0.82.

Northrim BanCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 19th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, December 19th. Northrim BanCorp’s payout ratio is currently 42.32%.

Insider Transactions at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total value of $201,450.00. Following the completion of the transaction, the director now directly owns 1,172 shares in the company, valued at $92,588. This trade represents a 68.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on Northrim BanCorp in a research report on Friday, December 20th. They issued an “outperform” rating and a $96.50 target price for the company.

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 professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.