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Northrim (NRIM)
:NRIM

Northrim Bancorp (NRIM) AI Stock Analysis

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Northrim Bancorp

(NASDAQ:NRIM)

Rating:78Outperform
Price Target:
$110.00
▲(12.99%Upside)
Northrim Bancorp's overall stock score reflects its strong financial performance and reasonable valuation, supported by positive technical indicators. The company's stable financial health and attractive dividend yield enhance its investment appeal. However, caution is advised due to potential short-term technical corrections.

Northrim Bancorp (NRIM) vs. SPDR S&P 500 ETF (SPY)

Northrim Bancorp Business Overview & Revenue Model

Company DescriptionNorthrim 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 MoneyNorthrim 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 and profit growth, low leverage, and solid equity ratios. While there are areas to monitor, such as EBIT margin contraction and negative free cash flow growth, the company's financial health appears stable and well-managed.
Income Statement
80
Positive
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
85
Very Positive
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
75
Positive
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue198.72M151.93M158.33M134.41M136.87M133.99M
Gross Profit159.37M151.93M125.79M127.35M137.19M133.99M
EBITDA53.40M50.60M34.92M41.66M52.47M46.75M
Net Income42.10M36.97M25.39M30.74M37.52M32.89M
Balance Sheet
Total Assets3.14B3.04B2.81B2.67B2.72B2.12B
Cash, Cash Equivalents and Short-Term Investments38.34M520.72M118.13M936.38M1.07B363.60M
Total Debt31.13M40.84M33.08M34.27M35.78M37.51M
Total Liabilities2.86B2.77B2.57B2.45B35.78M37.51M
Stockholders Equity279.76M267.12M234.72M218.63M237.82M221.57M
Cash Flow
Free Cash Flow55.68M-9.35M32.61M74.28M109.48M-39.72M
Operating Cash Flow55.47M-8.73M38.92M78.12M111.99M-36.45M
Investing Cash Flow-360.43M-197.63M-255.07M-405.63M-159.09M-382.82M
Financing Cash Flow290.12M150.56M75.33M-58.98M576.96M439.82M

Northrim Bancorp Technical Analysis

Technical Analysis Sentiment
Positive
Last Price97.35
Price Trends
50DMA
87.73
Positive
100DMA
81.45
Positive
200DMA
78.44
Positive
Market Momentum
MACD
2.79
Negative
RSI
68.92
Neutral
STOCH
88.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRIM, the sentiment is Positive. The current price of 97.35 is above the 20-day moving average (MA) of 91.26, above the 50-day MA of 87.73, and above the 200-day MA of 78.44, indicating a bullish trend. The MACD of 2.79 indicates Negative momentum. The RSI at 68.92 is Neutral, neither overbought nor oversold. The STOCH value of 88.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRIM.

Northrim Bancorp Risk Analysis

Northrim Bancorp disclosed 11 risk factors in its most recent earnings report. Northrim Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Northrim Bancorp Peers Comparison

Overall Rating
UnderperformOutperform
Sector (67)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$481.81M13.2111.27%15.07%53.76%
79
Outperform
$447.05M9.7714.36%2.16%12.02%26.09%
78
Outperform
$540.33M13.0016.22%2.62%23.96%47.39%
77
Outperform
$408.30M14.3113.33%1.50%14.44%16.49%
67
Neutral
$16.89B11.809.79%3.77%12.07%-8.35%
67
Neutral
$448.93M24.882.27%3.71%24.39%-56.57%
52
Neutral
$425.59M16.43-6.53%6.98%-5.55%-242.39%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
NRIM
Northrim Bancorp
97.35
42.33
76.94%
FBIZ
First Business Financial
53.70
18.91
54.35%
FFIC
Flushing Financial
12.70
0.35
2.83%
GCBC
Greene County Bancorp
24.20
-4.96
-17.01%
COFS
ChoiceOne Financial Services
30.01
4.35
16.95%
TCBX
Third Coast Bancshares
35.29
13.55
62.33%

Northrim Bancorp Corporate Events

Shareholder MeetingsBusiness Operations and Strategy
Northrim Bancorp Holds 2025 Annual Shareholder Meeting
Neutral
May 23, 2025

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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 03, 2025