Northrim Bancorp (NRIM) AI Stock Analysis

• Market Cap: $477.50M
• Dividend Yield: 2.93%
• Average Volume (3M): 56.40K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 1.10
• Revenue Growth: 23.96%
• EPS Growth: 47.39%
• Country: US
• Employees: 503
• Sector: Financial
• Sector Strength: 74
• Industry: Banks - Regional
• EPS (TTM): 2.38
• Shares Outstanding: 5,520,892
• 10 Day Avg. Volume: 59,139
• 30 Day Avg. Volume: 56,404
• PEG Ratio: 2.13
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -66.56
• Enterprise Value/Market Cap: 0.41
• Enterprise Value/Revenue: 0.28
• Enterprise Value/Gross Profit: 1.22
• Enterprise Value/Ebitda: 1.00
• 1Y Price Target: $96.50
• Price Target Upside: 11.57% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 77 Outperform
• Price Target: $102.00 ▲(17.93%Upside)

Northrim Bancorp's strong financial performance and positive technical indicators drive the overall score. The stock is reasonably valued with a healthy dividend yield, making it an attractive option in the regional banking sector. The absence of earnings call data and corporate events does not significantly impact the assessment.

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 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

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
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
198.72M	151.93M	158.33M	134.41M	136.87M	133.99M
	Gross Profit
159.37M	151.93M	125.79M	127.35M	137.19M	133.99M
	EBIT
57.38M	58.11M	26.38M	48.01M	47.99M	42.45M
	EBITDA
53.40M	50.60M	34.92M	41.66M	52.47M	46.75M
	Net Income Common Stockholders
42.10M	36.97M	25.39M	30.74M	37.52M	32.89M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
38.34M	520.72M	118.13M	936.38M	1.07B	363.60M
	Total Assets
3.14B	3.04B	2.81B	2.67B	2.72B	2.12B
	Total Debt
31.13M	40.84M	33.08M	34.27M	35.78M	37.51M
	Net Debt
-34.40M	-21.89M	-85.45M	-225.08M	-610.04M	-78.46M
	Total Liabilities
2.86B	2.77B	2.57B	2.45B	35.78M	37.51M
	Stockholders Equity
279.76M	267.12M	234.72M	218.63M	237.82M	221.57M
Cash Flow		Free Cash Flow
55.68M	-9.35M	32.61M	74.28M	109.48M	-39.72M
	Operating Cash Flow
55.47M	-8.73M	38.92M	78.12M	111.99M	-36.45M
	Investing Cash Flow
-360.43M	-197.63M	-255.07M	-405.63M	-159.09M	-382.82M
	Financing Cash Flow
290.12M	150.56M	75.33M	-58.98M	576.96M	439.82M

Northrim Bancorp Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 86.49
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRIM, the sentiment is Neutral. The current price of 86.49 is below the 20-day moving average (MA) of 89.20, above the 50-day MA of 81.65, and above the 200-day MA of 76.58, indicating a neutral trend. The MACD of 1.76 indicates Positive momentum. The RSI at 50.60 is Neutral, neither overbought nor oversold. The STOCH value of 39.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NRIM.

Northrim Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBIZ	78 Outperform	$395.98M	8.65	14.36%	2.44%	12.02%	26.09%
NRIM	77 Outperform	$477.50M	11.48	16.22%	2.93%	23.96%	47.39%
GCBC	71 Outperform	$372.04M	13.04	13.33%	1.67%	14.44%	16.49%
COFS	70 Neutral	$418.81M	23.21	2.27%	3.97%	24.39%	-56.57%
TCBX	68 Neutral	$417.90M	11.31	11.27%	―	15.07%	53.76%
Sector *	64 Neutral	$12.87B	9.76	7.85%	78.04%	12.07%	-7.94%
FFIC	48 Neutral	$388.44M	16.43	-6.53%	7.57%	-5.55%	-242.78%

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.