Northrim BanCorp Inc (NASDAQ:NRIM) – Analysts at FIG Partners dropped their Q4 2017 earnings estimates for Northrim BanCorp in a report issued on Tuesday. FIG Partners analyst B. Martin now expects that the financial services provider will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.51. FIG Partners also issued estimates for Northrim BanCorp’s Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $1.95 EPS.
Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. The firm had revenue of $23.96 million during the quarter, compared to analysts’ expectations of $24.70 million. COPYRIGHT VIOLATION WARNING: This report was reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2017/08/18/fig-partners-equities-analysts-reduce-earnings-estimates-for-northrim-bancorp-inc-nrim.html.
Separately, ValuEngine upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.
Shares of Northrim BanCorp (NASDAQ NRIM) opened at 27.70 on Wednesday. The stock has a 50 day moving average of $29.26 and a 200 day moving average of $29.84. The stock has a market capitalization of $191.41 million, a PE ratio of 13.78 and a beta of 0.59. Northrim BanCorp has a 52-week low of $24.35 and a 52-week high of $33.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Menta Capital LLC acquired a new position in shares of Northrim BanCorp during the first quarter valued at about $354,000. California Public Employees Retirement System boosted its position in shares of Northrim BanCorp by 4.0% in the first quarter. California Public Employees Retirement System now owns 57,668 shares of the financial services provider’s stock valued at $1,733,000 after buying an additional 2,200 shares during the last quarter. FMR LLC boosted its position in shares of Northrim BanCorp by 467.6% in the first quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock valued at $4,708,000 after buying an additional 129,069 shares during the last quarter. AXA boosted its position in shares of Northrim BanCorp by 5.9% in the first quarter. AXA now owns 17,900 shares of the financial services provider’s stock valued at $538,000 after buying an additional 1,000 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Northrim BanCorp by 6.9% in the first quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock valued at $124,000 after buying an additional 267 shares during the last quarter. Institutional investors own 71.65% of the company’s stock.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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