Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska.
Flawless balance sheet 6 star dividend payer.
Share Price & News
How has Northrim BanCorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NRIM's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: NRIM matched the US Banks industry which returned -34.8% over the past year.
Return vs Market: NRIM underperformed the US Market which returned -15.9% over the past year.
Price Volatility Vs. Market
How volatile is Northrim BanCorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StWhat Is Northrim BanCorp's (NASDAQ:NRIM) P/E Ratio After Its Share Price Tanked?
3 weeks ago | Simply Wall StA Sliding Share Price Has Us Looking At Northrim BanCorp, Inc.'s (NASDAQ:NRIM) P/E Ratio
1 month ago | Simply Wall StNorthrim BanCorp, Inc. (NASDAQ:NRIM) Passed Our Checks, And It's About To Pay A US$0.34 Dividend
Is Northrim BanCorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NRIM ($22.51) is trading below our estimate of fair value ($26.39)
Significantly Below Fair Value: NRIM is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: NRIM is good value based on its PE Ratio (7.3x) compared to the Banks industry average (8.5x).
PE vs Market: NRIM is good value based on its PE Ratio (7.3x) compared to the US market (12.2x).
Price to Earnings Growth Ratio
PEG Ratio: NRIM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: NRIM is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).
How is Northrim BanCorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NRIM's earnings are forecast to decline over the next 3 years (-25.8% per year).
Earnings vs Market: NRIM's earnings are forecast to decline over the next 3 years (-25.8% per year).
High Growth Earnings: NRIM's earnings are forecast to decline over the next 3 years.
Revenue vs Market: Insufficient data to determine if NRIM's revenue is forecast to grow faster than the US market.
High Growth Revenue: Insufficient data to determine if NRIM's revenue is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NRIM's Return on Equity is forecast to be low in 3 years time (6.3%).
How has Northrim BanCorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NRIM has high quality earnings.
Growing Profit Margin: NRIM's current net profit margins (20.3%) are lower than last year (21.2%).
Past Earnings Growth Analysis
Earnings Trend: NRIM's earnings have grown by 1.4% per year over the past 5 years.
Accelerating Growth: NRIM's earnings growth over the past year (3.4%) exceeds its 5-year average (1.4% per year).
Earnings vs Industry: NRIM earnings growth over the past year (3.4%) underperformed the Banks industry 10.9%.
Return on Equity
High ROE: NRIM's Return on Equity (10%) is considered low.
How is Northrim BanCorp's financial position?
Financial Position Analysis
Short Term Liabilities: NRIM's short term assets ($206.3M) do not cover its short term liabilities ($1.4B).
Long Term Liabilities: NRIM's short term assets ($206.3M) exceed its long term liabilities ($58.7M).
Debt to Equity History and Analysis
Debt Level: NRIM's debt to equity ratio (10.7%) is considered satisfactory.
Reducing Debt: NRIM's debt to equity ratio has reduced from 39.4% to 10.7% over the past 5 years.
Debt Coverage: NRIM's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if NRIM's interest payments on its debt are well covered by EBIT.
What is Northrim BanCorp's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: NRIM's dividend (6.04%) is higher than the bottom 25% of dividend payers in the US market (2.07%).
High Dividend: NRIM's dividend (6.04%) is in the top 25% of dividend payers in the US market (5.82%)
Stability and Growth of Payments
Stable Dividend: NRIM's dividends per share have been stable in the past 10 years.
Growing Dividend: NRIM's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (42.1%), NRIM's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NRIM's dividends in 3 years are forecast to be covered by earnings (71% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Joe Schierhorn (61yo)
Mr. Joseph M. Schierhorn, also known as Joe, has been the Chief Executive Officer of Northrim Bank since January 1, 2016 and its President since March 30, 2015 and as its Chairman of the Board since Januar ...
CEO Compensation Analysis
Compensation vs Market: Joe's total compensation ($USD771.19K) is about average for companies of similar size in the US market ($USD626.05K).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
|Executive VP & CFO||2.25yrs||US$359.66k||0.041% $66.0k|
|Executive VP||5.25yrs||US$392.04k||0.12% $195.7k|
|Executive VP & Chief Information Officer of Northrim Bank||5.25yrs||US$339.05k||0.068% $109.2k|
|Executive VP & Chief Lending Officer of Northrim Bank||2.92yrs||US$382.66k||0.14% $226.8k|
|Executive VP & Director of Accounting||no data||no data||no data|
|Executive VP & Chief Administrative Officer||no data||no data||no data|
|Marketing Officer||no data||no data||no data|
|VP & Marketing and Communications Director||no data||no data||no data|
|Senior VP & Corporate Accounting Manager||5.83yrs||US$392.61k||no data|
Experienced Management: NRIM's management team is considered experienced (4.1 years average tenure).
|Independent Director||6yrs||US$58.05k||0.060% $95.7k|
|Independent Director||13.58yrs||US$59.90k||0.23% $362.3k|
|Independent Director||29.25yrs||US$48.50k||0.035% $56.0k|
|Independent Director||25.25yrs||US$47.50k||0.039% $62.5k|
|Lead Director||8.67yrs||US$62.90k||0.16% $256.1k|
|Independent Director||4.92yrs||US$51.90k||0.049% $77.5k|
|Independent Director||8.67yrs||US$65.05k||0.10% $160.3k|
|Independent Director||6.08yrs||US$50.90k||0.084% $133.5k|
|Independent Director||4.92yrs||US$54.50k||0.048% $77.2k|
Experienced Board: NRIM's board of directors are considered experienced (7.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: NRIM insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Northrim BanCorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Northrim BanCorp, Inc.
- Ticker: NRIM
- Exchange: NasdaqGS
- Founded: 1990
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$159.761m
- Shares outstanding: 6.46m
- Website: https://www.northrim.com
Number of Employees
- Northrim BanCorp, Inc.
- 3111 C Street
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|NRIM||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Nov 1990|
Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits. It also provides family residential mortgages; commercial loans, such as secured and unsecured loans for working capital and expansion; commercial real estate loans; construction loans for commercial real estate projects, and land development and residential subdivision construction loans; and loans for automobiles, recreational vehicles, boats, and other consumer purchases, as well as home equity and commercial credit lines, and factoring services. In addition, the company offers other services that include consumer online banking, mobile app and mobile deposit, mobile Web and text banking, business online banking, personal finance, online documents, consumer and business debit cards, home equity advantage access cards, and telebanking and automated teller services. Further, it provides personalized checks, overdraft protection for savings accounts, commercial drive-up banking services, automatic transfers and payments, People Pay services, external and wire transfers, bill pay services, direct payroll deposits, electronic tax payments, automated clearing house origination and receipt services, remote deposit capture services, account reconciliation and positive pay services, merchant and cash management programs, annuity products, and long term investment portfolios. As of January 28, 2019, the company operated 15 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, and Sitka. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/08 03:21|
|End of Day Share Price||2020/04/07 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.