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

Northrim BanCorp (NASDAQ:NRIM) announced its earnings results on Wednesday. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.31, Yahoo Finance reports. The firm had revenue of $46.49 million for the quarter, compared to analysts’ expectations of $35.00 million. Northrim BanCorp had a net margin of 18.41% and a return on equity of 13.82%.

Northrim BanCorp Stock Down 0.2 %

Shares of NRIM traded down $0.15 during mid-day trading on Friday, hitting $71.31. The company’s stock had a trading volume of 18,900 shares, compared to its average volume of 15,836. The company’s 50-day moving average is $57.63 and its 200-day moving average is $52.47. Northrim BanCorp has a 52-week low of $38.25 and a 52-week high of $74.34. The firm has a market capitalization of $392.21 million, a price-to-earnings ratio of 14.16 and a beta of 0.73. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, June 6th were given a $0.61 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.44 annualized dividend and a dividend yield of 3.42%. Northrim BanCorp’s payout ratio is presently 47.56%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Northrim BanCorp

In other news, Director David J. Mccambridge bought 550 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $53.93 per share, with a total value 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 approximately $545,340.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

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.