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

Northrim BanCorp (NASDAQ:NRIM) issued its quarterly earnings results on Friday. The financial services provider reported $1.95 earnings per share (EPS) 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 Stock Up 1.7 %

Shares of NASDAQ NRIM opened at $80.17 on Friday. The company has a 50 day simple moving average of $80.86 and a 200 day simple moving average of $72.36. The firm has a market cap of $440.94 million, a PE 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. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 19th were issued a $0.62 dividend. 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 payout ratio is presently 42.32%.

Analyst Ratings Changes

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

Insider Transactions at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total value of $201,450.00. Following the sale, the director now directly owns 1,172 shares in the company, valued at $92,588. This represents a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by company insiders.

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.