Northrim BanCorp (NASDAQ:NRIM) Announces Quarterly Earnings Results

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

Northrim BanCorp Price Performance

NRIM stock opened at $80.17 on Friday. The firm has a 50-day moving average of $80.86 and a 200 day moving average of $72.48. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The company has a market cap of $440.94 million, a P/E ratio of 13.68 and a beta of 0.82. Northrim BanCorp has a 1 year low of $43.92 and a 1 year high of $91.72.

Northrim BanCorp Announces Dividend

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

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 1,172 shares of the company’s stock, valued at approximately $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

About Northrim BanCorp

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.