Brokerages Set $36.00 Price Target for Northrim BanCorp, Inc. (NRIM)

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

Brokerages have set a one year consensus target price of $36.00 for the company and are anticipating that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also assigned Northrim BanCorp an industry rank of 5 out of 265 based on the ratings given to its competitors.

NRIM has been the subject of several research analyst reports. ValuEngine upgraded Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th.

Shares of Northrim BanCorp (NASDAQ NRIM) opened at $35.10 on Monday. Northrim BanCorp has a twelve month low of $26.31 and a twelve month high of $38.15. The company has a market capitalization of $240.55, a PE ratio of 14.87 and a beta of 0.75. 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 (NASDAQ:NRIM) last released its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.16). Northrim BanCorp had a return on equity of 8.67% and a net margin of 16.18%. analysts predict that Northrim BanCorp will post 2.36 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Dalton Greiner Hartman Maher & Co. grew its stake in shares of Northrim BanCorp by 26.7% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 66,703 shares of the financial services provider’s stock valued at $2,258,000 after purchasing an additional 14,048 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Northrim BanCorp by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 558,458 shares of the financial services provider’s stock valued at $19,518,000 after purchasing an additional 35,888 shares during the period. Brandes Investment Partners LP grew its stake in shares of Northrim BanCorp by 3.5% during the 3rd quarter. Brandes Investment Partners LP now owns 52,556 shares of the financial services provider’s stock valued at $1,837,000 after purchasing an additional 1,791 shares during the period. Wells Fargo & Company MN grew its stake in shares of Northrim BanCorp by 50.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,450 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 3,494 shares during the period. Finally, Commonwealth Equity Services Inc bought a new stake in shares of Northrim BanCorp during the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 72.13% of the company’s stock.

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About Northrim BanCorp

Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.

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