Northrim Bancorp (NRIM) AI Stock Analysis

• Market Cap: $446.56M
• Dividend Yield: 3.09%
• Average Volume (3M): 60.54K
• Price to Earnings (P/E): 10.3
• Beta (1Y): 1.10
• Revenue Growth: 27.34%
• EPS Growth: 39.43%
• Country: US
• Employees: 503
• Sector: Financial
• Sector Strength: 65
• Industry: Banks - Regional
• EPS (TTM): 2.09
• Shares Outstanding: 5,522,667
• 10 Day Avg. Volume: 51,638
• 30 Day Avg. Volume: 60,544
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 2.70
• Enterprise Value/Gross Profit: 3.40
• Enterprise Value/Ebitda: 9.71
• 1Y Price Target: $102.00
• Price Target Upside: 24.22% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 73 Outperform
• Price Target: $100.00 ▲(21.79% Upside)

Northrim Bancorp's strong financial performance and stable valuation are the key drivers of its overall score. Despite mixed technical indicators, the company's solid financial health and reasonable valuation make it an attractive option in the regional banking sector.

Northrim Bancorp Business Overview & Revenue Model

Company Description

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, 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 text 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, business employee purchase cards, 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 brokerage services. As of January 28, 2022, the company operated 17 branches in Anchorage, the Matanuska Valley, Soldotna, Juneau, Fairbanks, Ketchikan, and Sitka. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.

How the Company Makes Money

Northrim Bancorp generates revenue primarily through its subsidiary, Northrim Bank, by offering a range of banking services. The company's primary revenue streams include interest income from loans and leases, and non-interest income from service charges, fees, and commissions. Interest income is earned from providing loans to individuals and businesses, including commercial real estate, construction, and consumer loans. Non-interest income is derived from fees associated with deposit accounts, mortgage banking activities, and other financial services. The bank also benefits from strategic partnerships and collaborations that enhance its product offerings and market reach, contributing to its earnings.

Northrim Bancorp Financial Statement Overview

Summary

Northrim Bancorp exhibits strong financial performance with robust revenue growth and healthy profit margins. The balance sheet reflects financial stability with low leverage and a solid equity base. Cash flow performance is mixed with strong cash generation, but negative free cash flow growth is a concern.

Income Statement

Northrim Bancorp has demonstrated solid revenue growth with a TTM increase from $155.2 million to $168.9 million, indicating a positive trajectory. The gross profit margin remains strong at approximately 94.4% for TTM. The net profit margin is healthy at 24.9% TTM, showing profitability. However, there is a slight contraction in EBIT margin from 27.1% in the previous year to 30.2% TTM, which should be monitored.

Balance Sheet

The company's balance sheet reflects financial stability with a low debt-to-equity ratio of 0.03, indicating conservative leverage. The equity ratio is robust at 8.9% TTM, showing a solid equity base. Return on Equity (ROE) has improved to 15.1% TTM, showcasing effective use of equity. Overall, the balance sheet demonstrates financial prudence and strength.

Cash Flow

Northrim Bancorp's cash flow performance is mixed. The operating cash flow to net income ratio is strong at 1.32 TTM, indicating efficient cash generation. The free cash flow to net income ratio is commendable at 1.33. However, the negative free cash flow growth compared to the previous year is a concern. Despite this, the company maintains a healthy cash flow position.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	195.96M	158.33M	134.41M	136.87M	140.04M
Gross Profit	151.93M	125.79M	127.35M	137.19M	131.56M
EBITDA	50.60M	34.92M	41.66M	52.47M	46.75M
Net Income	36.97M	25.39M	30.74M	37.52M	32.89M
Balance Sheet
Total Assets	3.04B	2.81B	2.67B	2.72B	2.12B
Cash, Cash Equivalents and Short-Term Investments	541.35M	756.47M	936.38M	1.07B	363.60M
Total Debt	40.84M	33.08M	34.27M	35.78M	37.51M
Total Liabilities	2.77B	2.57B	2.45B	2.49B	1.90B
Stockholders Equity	267.12M	234.72M	218.63M	237.82M	221.57M
Cash Flow
Free Cash Flow	-9.35M	32.61M	74.28M	109.48M	-39.72M
Operating Cash Flow	-8.73M	38.92M	78.12M	111.99M	-36.45M
Investing Cash Flow	-197.63M	-254.92M	-405.57M	-159.09M	-382.82M
Financing Cash Flow	150.56M	75.33M	-58.98M	576.96M	439.82M

Northrim Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 82.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRIM, the sentiment is Negative. The current price of 82.11 is below the 20-day moving average (MA) of 90.74, below the 50-day MA of 90.86, and above the 200-day MA of 80.89, indicating a bearish trend. The MACD of -2.85 indicates Positive momentum. The RSI at 27.83 is Positive, neither overbought nor oversold. The STOCH value of 5.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NRIM.

Northrim Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCBX	77 Outperform	$502.84M	11.85	12.21%	―	10.44%	62.82%
FBIZ	76 Outperform	$391.04M	8.36	14.31%	2.30%	8.45%	21.74%
GCBC	75 Outperform	$400.64M	12.80	14.00%	1.56%	13.07%	25.72%
NRIM	73 Outperform	$446.56M	10.25	16.69%	3.09%	27.34%	39.43%
Sector *	69 Neutral	CHF14.06B	15.35	11.33%	3.91%	3.36%	20.02%
COFS	66 Neutral	$430.20M	23.19	4.37%	3.87%	38.01%	-58.08%
FFIC	57 Neutral	$398.57M	16.43	-5.24%	7.46%	-6.64%	-233.17%

Northrim Bancorp Corporate Events

Northrim Bancorp Holds 2025 Annual Shareholder Meeting

On May 22, 2025, Northrim BanCorp, Inc. conducted its 2025 Annual Meeting of Shareholders, where key decisions were made regarding the company’s governance and financial strategies. The shareholders voted on the election of 13 directors, the approval of the 2025 Stock Incentive Plan, the compensation of executive officers, and the ratification of Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These decisions are pivotal for the company’s operational and strategic direction in the upcoming year.

The most recent analyst rating on (NRIM) stock is a Buy with a $96.50 price target. To see the full list of analyst forecasts on Northrim Bancorp stock, see the NRIM Stock Forecast page.