Northrim BanCorp (NASDAQ:NRIM) Downgraded by StockNews.com

StockNews.com downgraded shares of Northrim BanCorp (NASDAQ:NRIM) from a buy rating to a hold rating in a report published on Tuesday.

Northrim BanCorp Stock Performance

Shares of NRIM stock opened at $53.01 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Northrim BanCorp has a 52 week low of $36.91 and a 52 week high of $59.90. The stock has a market capitalization of $291.56 million, a PE ratio of 10.33 and a beta of 0.71. The firm has a 50 day moving average of $49.41 and a two-hundred day moving average of $50.68.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.05 by $0.43. Northrim BanCorp had a net margin of 17.19% and a return on equity of 12.50%. The company had revenue of $34.29 million during the quarter, compared to analysts’ expectations of $32.40 million. On average, research analysts predict that Northrim BanCorp will post 5.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Northrim BanCorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Teton Advisors Inc. acquired a new stake in shares of Northrim BanCorp in the 4th quarter valued at $240,000. Russell Investments Group Ltd. raised its holdings in shares of Northrim BanCorp by 17.2% in the 4th quarter. Russell Investments Group Ltd. now owns 38,568 shares of the financial services provider’s stock valued at $2,206,000 after purchasing an additional 5,650 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Northrim BanCorp during the 3rd quarter worth $822,000. Los Angeles Capital Management LLC raised its stake in Northrim BanCorp by 34.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 8,300 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 2,140 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new stake in Northrim BanCorp during the 4th quarter worth $247,000. 65.99% of the stock is currently owned by institutional investors and hedge funds.

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.