Keefe, Bruyette & Woods Begins Coverage on Northrim BanCorp (NASDAQ:NRIM)

Equities research analysts at Keefe, Bruyette & Woods started coverage on shares of Northrim BanCorp (NASDAQ:NRIM) in a research note issued on Wednesday,Benzinga reports. The firm set a “market perform” rating and a $30.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 8.15% from the company’s current price.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Northrim BanCorp Trading Down 0.5%

NASDAQ:NRIM opened at $27.74 on Wednesday. The firm has a market cap of $617.22 million, a PE ratio of 9.62 and a beta of 0.88. The stock has a fifty day moving average price of $24.93 and a 200 day moving average price of $25.14. Northrim BanCorp has a 12-month low of $19.60 and a 12-month high of $30.82. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.08. The company had revenue of $49.46 million for the quarter, compared to the consensus estimate of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. Sell-side analysts anticipate that Northrim BanCorp will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of Northrim BanCorp

A number of institutional investors have recently bought and sold shares of NRIM. Financial Management Professionals Inc. purchased a new position in shares of Northrim BanCorp in the 4th quarter valued at about $27,000. Western Wealth Management LLC purchased a new stake in Northrim BanCorp during the first quarter worth approximately $27,000. Quarry LP lifted its stake in Northrim BanCorp by 47.7% during the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 412 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Northrim BanCorp by 298.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Northrim BanCorp by 227.2% in the third quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,261 shares in the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.