Northrim BanCorp (NASDAQ:NRIM) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of Northrim BanCorp (NASDAQ:NRIM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Hovde Group upped their price objective on shares of Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

Northrim BanCorp Price Performance

Shares of NRIM stock traded up $0.08 during trading hours on Friday, reaching $91.84. The stock had a trading volume of 107,774 shares, compared to its average volume of 32,918. The stock's fifty day simple moving average is $79.20 and its 200 day simple moving average is $80.29. The firm has a market capitalization of $507.05 million, a PE ratio of 13.87 and a beta of 0.93. Northrim BanCorp has a 12 month low of $52.10 and a 12 month high of $92.45. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.82. The firm had revenue of $45.50 million for the quarter, compared to analysts' expectations of $44.10 million. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. On average, equities research analysts predict that Northrim BanCorp will post 8.05 EPS for the current year.

Northrim BanCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, June 5th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.79%. Northrim BanCorp's dividend payout ratio is currently 34.04%.

Institutional Investors Weigh In On Northrim BanCorp

Large investors have recently modified their holdings of the stock. Boston Partners purchased a new stake in shares of Northrim BanCorp in the 1st quarter worth about $2,474,000. Vanguard Group Inc. boosted its stake in Northrim BanCorp by 10.8% during the first quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider's stock worth $24,427,000 after acquiring an additional 32,492 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Northrim BanCorp in the fourth quarter worth about $2,111,000. Raymond James Financial Inc. purchased a new stake in Northrim BanCorp in the fourth quarter worth about $1,794,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Northrim BanCorp by 299.5% during the first quarter. Panagora Asset Management Inc. now owns 26,927 shares of the financial services provider's stock valued at $1,972,000 after purchasing an additional 20,186 shares in the last quarter. Institutional investors own 65.99% 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.