Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
United StatesIPO:
15 November 1990Website:
http://www.northrim.comNext earnings report:
24 January 2025Last dividends:
05 September 2024Next dividends:
N/APrice
after hours | Wed, 20 Nov 2024 21:02:35 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
NRIM Latest News
Northrim (NRIM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Northrim (NRIM) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Northrim (NRIM) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.
ANCHORAGE, Alaska, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today announced the acquisition of Sallyport Commercial Finance, LLC (“Sallyport” or “SCF”) in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States and Canada. The transaction is expected to provide earnings accretion of approximately 15% to Northrim's 2025 operating results.
ANCHORAGE, Alaska, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $8.8 million, or $1.57 per diluted share, in the third quarter of 2024, compared to $9.0 million, or $1.62 per diluted share, in the second quarter of 2024, and $8.4 million, or $1.48 per diluted share, in the third quarter a year ago. The increase in third quarter 2024 profitability as compared to the third quarter a year ago was primarily the result of an increase in mortgage banking income and higher net interest income, which was only partially offset by higher other operating expenses and a higher provision for credit losses.
Northrim (NRIM) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.
Northrim Bancorp (NRIM) raises quarterly dividend by 1.6% to 62 cents per share. A solid balance sheet is likely to keep its capital distributions sustainable.
ANCHORAGE, Alaska, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.62 per share. The dividend will be payable on September 13, 2024, to shareholders of record at the close of business on September 5, 2024.
NRIM's price per share has dropped 6.50% since Q2 2024 earnings release, possibly due to uncertainty about future interest rates. The loan portfolio is growing, with a focus on riskier commercial loans, but NPLs remain low due to excellent credit risk management. NRIM's low cost of deposits and improving NIM, along with shareholder remuneration focus, make it an interesting bank despite high valuation.
Northrim BanCorp (NRIM) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.31 per share. This compares to earnings of $0.98 per share a year ago.
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What type of business is Northrim BanCorp?
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. It also provides short and medium-term commercial loans, commercial credit lines, construction and real estate loans, and consumer loans, as well as short-term working capital. In addition, the company offers other services comprising consumer and business online banking, mobile app, and mobile deposits; and debit and credit cards. Further, it provides mobile web and app banking, consumer online account opening, personal finance, online documents, consumer debit cards, business debit cards, my rewards for consumer debit cards, retail lockbox, card control, corporate purchase cards, integrated payables, home equity advantage access cards, telebanking, and automated teller services. Additionally, the company offers personalized checks at account opening, overdraft protection from a savings account, commercial drive-up banking, automatic transfer and payment, People Pay, external transfer, Bill Pay, wire transfer, direct payroll deposit, electronic tax payment, Automated Clearing House origination and receipt, remote deposit capture, account reconciliation and positive pay, merchant, cash management, annuity, and long-term investment portfolio products and services. It also provides investment advisory, trust, wealth management, factoring, and mortgage services. The company was founded in 1990 and is headquartered in Anchorage, Alaska.
What sector is Northrim BanCorp in?
Northrim BanCorp is in the Financial Services sector
What industry is Northrim BanCorp in?
Northrim BanCorp is in the Banks - Regional industry
What country is Northrim BanCorp from?
Northrim BanCorp is headquartered in United States
When did Northrim BanCorp go public?
Northrim BanCorp initial public offering (IPO) was on 15 November 1990
What is Northrim BanCorp website?
https://www.northrim.com
Is Northrim BanCorp in the S&P 500?
No, Northrim BanCorp is not included in the S&P 500 index
Is Northrim BanCorp in the NASDAQ 100?
No, Northrim BanCorp is not included in the NASDAQ 100 index
Is Northrim BanCorp in the Dow Jones?
No, Northrim BanCorp is not included in the Dow Jones index
When was Northrim BanCorp the previous earnings report?
No data
When does Northrim BanCorp earnings report?
The next expected earnings date for Northrim BanCorp is 24 January 2025