Northrim BanCorp (NASDAQ:NRIM) Releases Earnings Results, Beats Estimates By $0.72 EPS

Northrim BanCorp (NASDAQ:NRIM) posted its quarterly earnings data on Friday. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate 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

Shares of NRIM stock traded up $1.37 during mid-day trading on Friday, reaching $80.17. The company’s stock had a trading volume of 25,975 shares, compared to its average volume of 58,737. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The firm’s 50-day moving average is $81.03 and its two-hundred day moving average is $72.15. Northrim BanCorp has a 1-year low of $43.92 and a 1-year high of $91.72. 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 Announces Dividend

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

Insider Activity at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of Northrim BanCorp stock in a transaction dated Wednesday, November 13th. The shares were 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 directly owns 1,172 shares of the company’s stock, valued at $92,588. This trade represents a 68.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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