Brokers Issue Forecasts for Northrim BanCorp, Inc.’s FY2018 Earnings (NASDAQ:NRIM)

Northrim BanCorp, Inc. (NASDAQ:NRIM) – Investment analysts at FIG Partners lifted their FY2018 earnings estimates for shares of Northrim BanCorp in a report issued on Wednesday, according to Zacks Investment Research. FIG Partners analyst B. Martin now expects that the financial services provider will post earnings per share of $2.18 for the year, up from their prior forecast of $1.95.

NRIM has been the subject of a number of other reports. ValuEngine raised Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research cut Northrim BanCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th.

Shares of Northrim BanCorp (NRIM) opened at $35.10 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $243.64, a PE ratio of 14.87 and a beta of 0.75. Northrim BanCorp has a 52 week low of $26.31 and a 52 week high of $38.15.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, December 7th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 2.51%. Northrim BanCorp’s payout ratio is 37.29%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dalton Greiner Hartman Maher & Co. increased its stake in Northrim BanCorp by 26.7% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 66,703 shares of the financial services provider’s stock worth $2,258,000 after purchasing an additional 14,048 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Northrim BanCorp by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 558,458 shares of the financial services provider’s stock worth $19,518,000 after purchasing an additional 35,888 shares in the last quarter. Brandes Investment Partners LP increased its stake in Northrim BanCorp by 3.5% during the 3rd quarter. Brandes Investment Partners LP now owns 52,556 shares of the financial services provider’s stock worth $1,837,000 after purchasing an additional 1,791 shares in the last quarter. Wells Fargo & Company MN increased its stake in Northrim BanCorp by 50.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,450 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 3,494 shares in the last quarter. Finally, Commonwealth Equity Services Inc bought a new stake in Northrim BanCorp during the 3rd quarter worth approximately $206,000. 72.13% of the stock is owned by institutional investors and hedge funds.

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Northrim BanCorp Company Profile

Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.

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