NasdaqGS:NRIM

Stock Analysis Report

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Market Cap

US$266.9m

Last Updated

2021/06/23 02:26 UTC

Data Sources

Company Financials +

Executive Summary

Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. More Details


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: NRIM's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-3.4%

NRIM

-3.6%

US Banks

-0.1%

US Market


1 Year Return

87.9%

NRIM

55.9%

US Banks

39.0%

US Market

Return vs Industry: NRIM exceeded the US Banks industry which returned 54.9% over the past year.

Return vs Market: NRIM exceeded the US Market which returned 39% over the past year.


Shareholder returns

NRIMIndustryMarket
7 Day-3.4%-3.6%-0.1%
30 Day-4.1%-6.8%2.6%
90 Day3.1%3.6%8.0%
1 Year95.4%87.9%60.4%55.9%41.2%39.0%
3 Year19.5%7.0%26.1%15.3%62.4%52.3%
5 Year96.1%66.2%114.1%87.1%132.3%106.2%

Long-Term 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

Valuation

Is Northrim BanCorp undervalued compared to its fair value and its price relative to the market?

28.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NRIM ($42.93) is trading below our estimate of fair value ($60.7)

Significantly Below Fair Value: NRIM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NRIM is good value based on its PE Ratio (6.1x) compared to the US Banks industry average (11.7x).

PE vs Market: NRIM is good value based on its PE Ratio (6.1x) compared to the US market (19.2x).


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's PB Ratio (1.2x) is in line with the US Banks industry average.


Future Growth

How is Northrim BanCorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-40.8%

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 (-40.8% per year).

Earnings vs Market: NRIM's earnings are forecast to decline over the next 3 years (-40.8% 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: Insufficient data to determine if NRIM's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Northrim BanCorp performed over the past 5 years?

17.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NRIM has high quality earnings.

Growing Profit Margin: NRIM's current net profit margins (29.7%) are higher than last year (17.3%).


Past Earnings Growth Analysis

Earnings Trend: NRIM's earnings have grown by 17.6% per year over the past 5 years.

Accelerating Growth: NRIM's earnings growth over the past year (152.9%) exceeds its 5-year average (17.6% per year).

Earnings vs Industry: NRIM earnings growth over the past year (152.9%) exceeded the Banks industry 20.7%.


Return on Equity

High ROE: NRIM's Return on Equity (19%) is considered low.


Financial Health

How is Northrim BanCorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: NRIM's Assets to Equity ratio (10.2x) is moderate.

Allowance for Bad Loans: NRIM has a sufficient allowance for bad loans (102%).

Low Risk Liabilities: 97% of NRIM's liabilities are made up of primarily low risk sources of funding.

Loan Level: NRIM has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: NRIM's Loans to Deposits ratio (75%) is appropriate.

Level of Bad Loans: NRIM has an appropriate level of bad loans (0.9%).


Dividend

What is Northrim BanCorp current dividend yield, its reliability and sustainability?

3.44%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NRIM's dividend (3.45%) is higher than the bottom 25% of dividend payers in the US market (1.31%).

High Dividend: NRIM's dividend (3.45%) is in the top 25% of dividend payers in the US market (3.44%)


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 low payout ratio (20.6%), NRIM's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average management tenure


CEO

Joe Schierhorn (62 yo)

4yrs

Tenure

US$942,258

Compensation

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 ($USD942.26K) is about average for companies of similar size in the US market ($USD1.07M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NRIM's management team is seasoned and experienced (5.3 years average tenure).


Board Members

Experienced Board: NRIM's board of directors are considered experienced (7.2 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Northrim BanCorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Northrim BanCorp, Inc.
  • Ticker: NRIM
  • Exchange: NasdaqGS
  • Founded: 1990
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$266.897m
  • Shares outstanding: 6.21m
  • Website: https://www.northrim.com

Number of Employees


Location

  • Northrim BanCorp, Inc.
  • 3111 C Street
  • Anchorage
  • Alaska
  • 99503
  • United States

Listings


Biography

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 in two segments,...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/23 02:26
End of Day Share Price2021/06/22 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.