Northrim BanCorp (NASDAQ:NRIM) Issues Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Northrim BanCorp (NASDAQ:NRIM) released its quarterly earnings results on Wednesday. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.31 by $0.31, Yahoo Finance reports. The company had revenue of $46.49 million during the quarter, compared to analyst estimates of $35.00 million. Northrim BanCorp had a return on equity of 12.50% and a net margin of 17.19%.

Northrim BanCorp Trading Up 3.7 %

Shares of NASDAQ:NRIM traded up $2.54 during trading hours on Thursday, hitting $71.46. 56,854 shares of the company’s stock traded hands, compared to its average volume of 15,814. Northrim BanCorp has a 1 year low of $38.25 and a 1 year high of $74.34. The business has a fifty day moving average price of $57.33 and a 200-day moving average price of $52.34. The firm has a market capitalization of $393.03 million, a P/E ratio of 13.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.79.

Northrim BanCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, June 6th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.44 annualized dividend and a dividend yield of 3.41%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 47.56%.

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director David J. Mccambridge bought 550 shares of the company’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $53.93 per share, for a total transaction of $29,661.50. Following the completion of the transaction, the director now directly owns 10,112 shares of the company’s stock, valued at $545,340.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st.

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.