Northrim BanCorp (NRIM) Expected to Announce Quarterly Earnings on Wednesday

Northrim BanCorp (NASDAQ:NRIM) will likely be announcing its earnings results before the market opens on Wednesday, April 23rd. Analysts expect the company to announce earnings of $1.56 per share and revenue of $44.10 million for the quarter.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. On average, analysts expect Northrim BanCorp to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Northrim BanCorp Stock Up 1.5 %

NRIM opened at $71.53 on Wednesday. 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 12 month low of $44.31 and a 12 month high of $91.72. The stock’s 50 day moving average price is $76.62 and its 200 day moving average price is $77.19. The stock has a market cap of $394.92 million, a P/E ratio of 10.81 and a beta of 0.73.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 6th. Northrim BanCorp’s dividend payout ratio (DPR) is 38.67%.

Insider Buying and Selling at Northrim BanCorp

In other news, CEO Michael G. Huston sold 453 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $89.18, for a total value of $40,398.54. Following the sale, the chief executive officer now owns 23,759 shares of the company’s stock, valued at approximately $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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