Northrim BanCorp (NASDAQ:NRIM) Issues Earnings Results, Beats Expectations 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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.72, Zacks reports. Northrim BanCorp had a net margin of 17.79% and a return on equity of 13.31%.

Northrim BanCorp Stock Up 1.7 %

Shares of NASDAQ NRIM traded up $1.37 during midday trading on Friday, hitting $80.17. The company’s stock had a trading volume of 25,975 shares, compared to its average volume of 59,132. The business’s fifty day simple moving average is $81.03 and its two-hundred day simple moving average is $72.15. 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 has a 1 year low of $43.92 and a 1 year high of $91.72. The firm has a market capitalization of $440.94 million, a price-to-earnings ratio of 13.68 and a beta of 0.82.

Northrim BanCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 19th were paid a $0.62 dividend. 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 payout ratio is 42.32%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 1,172 shares in the company, valued at approximately $92,588. The trade was a 68.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by insiders.

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.