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Northrim BanCorp Inc (NRIM)
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Upturn Advisory Summary
12/19/2024: NRIM (3-star) is a SELL. SELL since 1 days. Profits (-1.80%). Updated daily EoD!
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: SELL |
Historic Profit: 74.27% | Upturn Advisory Performance 3 | Avg. Invested days: 43 |
Profits based on simulation | Stock Returns Performance 4 | Last Close 12/19/2024 |
Type: Stock | Today’s Advisory: SELL |
Historic Profit: 74.27% | Avg. Invested days: 43 |
Upturn Star Rating | Stock Returns Performance 4 |
Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 3 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 420.79M USD |
Price to earnings Ratio 13.05 | 1Y Target Price 90 |
Dividends yield (FY) 3.22% | Basic EPS (TTM) 5.86 |
Volume (30-day avg) 25460 | Beta 0.74 |
52 Weeks Range 42.69 - 91.00 | Updated Date 12/20/2024 |
Company Size Small-Cap Stock | Market Capitalization 420.79M USD | Price to earnings Ratio 13.05 | 1Y Target Price 90 |
Dividends yield (FY) 3.22% | Basic EPS (TTM) 5.86 | Volume (30-day avg) 25460 | Beta 0.74 |
52 Weeks Range 42.69 - 91.00 | Updated Date 12/20/2024 |
Earnings Date
Report Date - | When - |
Estimate - | Actual - |
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 23.06% | Operating Margin (TTM) 31.89% |
Management Effectiveness
Return on Assets (TTM) 1.14% | Return on Equity (TTM) 13.46% |
Revenue by Products
Revenue by Products - Current and Previous Year
Valuation
Trailing PE 13.05 | Forward PE 9.69 |
Enterprise Value 347980608 | Price to Sales(TTM) 2.97 |
Enterprise Value to Revenue 3.15 | Enterprise Value to EBITDA - |
Shares Outstanding 5501940 | Shares Floating 5338535 |
Percent Insiders 3.31 | Percent Institutions 72.58 |
Trailing PE 13.05 | Forward PE 9.69 | Enterprise Value 347980608 | Price to Sales(TTM) 2.97 |
Enterprise Value to Revenue 3.15 | Enterprise Value to EBITDA - | Shares Outstanding 5501940 | Shares Floating 5338535 |
Percent Insiders 3.31 | Percent Institutions 72.58 |
Analyst Ratings
Rating 5 | Target Price 58 | Buy - |
Strong Buy 1 | Hold - | Sell - |
Strong Sell - |
Rating 5 | Target Price 58 | Buy - | Strong Buy 1 |
Hold - | Sell - | Strong Sell - |
AI Summarization
Northrim BanCorp Inc. : A Comprehensive Stock Overview
Company Profile
History and Background
Northrim BanCorp Inc. (NRZ) is a holding company for Northrim Bank, a community bank established in 1998 and headquartered in Anchorage, Alaska. The bank primarily serves individual and corporate clients in Alaska's Southcentral region, focusing on commercial real estate, commercial and industrial loans, construction loans, consumer loans, and deposit services.
Core Business Areas
Northrim Bank operates through the following key segments:
- Commercial Banking: Offering lending and deposit services to businesses and organizations.
- Retail Banking: Providing deposit accounts, consumer loans, mortgages, and other services to individuals.
- Wealth Management: Delivering investment and wealth management solutions.
Leadership and Corporate Structure
The company's leadership includes:
- President and CEO: Joe Schierl
- Executive Vice President and COO: Mike McDonald
- Executive Vice President and CFO: David S. Maney
- Board of Directors: Composed of experienced individuals with expertise in banking, finance, and business.
Top Products and Market Share
Top Products and Offerings
- Commercial Real Estate Loans: Northrim Bank holds a significant market share in Alaska's commercial real estate lending market.
- Commercial and Industrial Loans: The bank provides financing solutions to businesses across various industries.
- Construction Loans: Catering to the construction and development sector in Alaska.
- Consumer Loans: Offering personal loans, auto loans, and lines of credit.
- Deposit Accounts: Providing checking, savings, and money market accounts.
Market Share Analysis
Northrim Bank holds a leading market share in the Southcentral Alaska region for commercial real estate loans and is a significant player in the overall banking market. However, its market share in the broader US market remains limited due to its regional focus.
Product Performance and Competitor Comparison
Northrim Bank's products have been consistently performing well, with strong loan growth and deposit acquisition. The bank's focus on customer service and relationship-building has helped it maintain a loyal customer base and attract new clients. However, it faces competition from larger regional and national banks in Alaska, requiring constant innovation and differentiation strategies.
Total Addressable Market
The total addressable market for Northrim BanCorp Inc. includes the banking and financial services market in Alaska, specifically focusing on the Southcentral region. This market represents a significant opportunity for the company, considering the state's growing economy and population.
Financial Performance
Recent Financial Statements Analysis
Northrim BanCorp Inc. has demonstrated consistent financial performance in recent years. Revenue and net income have grown steadily, with healthy profit margins and increasing earnings per share (EPS). The company maintains a strong balance sheet with ample liquidity and manageable debt levels.
Year-over-Year Comparison
Year-over-year comparisons showcase consistent growth in key financial metrics, indicating the company's sustainable business model and effective management strategies.
Dividends and Shareholder Returns
Dividend History
Northrim BanCorp Inc. has a history of paying regular dividends, with a current annual dividend yield of approximately 2.5%. The payout ratio is well-managed, ensuring sustainable dividend payments while allowing for future investment and growth.
Shareholder Returns
Shareholders have experienced significant returns over the past few years, exceeding the performance of major market indices. This positive trend reflects the company's strong financial performance and growth prospects.
Growth Trajectory
Historical Growth Analysis
Northrim BanCorp Inc. has shown consistent growth over the past 5-10 years, expanding its loan portfolio, customer base, and market share. This growth has been driven by organic expansion and strategic acquisitions.
Future Growth Projections
Industry trends and company guidance suggest continued growth in the coming years. Alaska's economic outlook remains positive, and Northrim Bank is well-positioned to capitalize on market opportunities through its regional focus and customer-centric approach.
Recent Product Launches and Strategic Initiatives
Northrim Bank is constantly innovating and introducing new products and services to meet the evolving needs of its customers. Recent initiatives include the launch of digital banking platforms and expansion of wealth management services, aligning with the growing demand for convenient and personalized financial solutions.
Market Dynamics
Industry Overview
The banking and financial services industry is experiencing significant changes driven by technological advancements, evolving customer expectations, and regulatory shifts. Community banks like Northrim BanCorp Inc. face challenges from larger competitors and the rise of fintech companies.
Northrim's Positioning and Adaptability
Northrim Bank is strategically positioned to adapt to these challenges by leveraging its strong local presence, personalized service, and focus on niche markets. The bank's continued investment in technology and digital solutions will be crucial in maintaining its competitive edge.
Competitors
Key Competitors
Major competitors in Alaska's banking market include:
- First National Bank Alaska (FNBA)
- Wells Fargo (WFC)
- KeyBank (KEY)
- Alaska USA Federal Credit Union (ALCU)
Market Share Comparison
Northrim Bank holds a leading market share in the Southcentral region but faces stiff competition from these larger players in the broader Alaskan market.
Competitive Advantages and Disadvantages
Northrim's advantages include its local expertise, strong customer relationships, and focus on specific market segments. However, its limited geographic reach and smaller size compared to national banks pose challenges.
Potential Challenges and Opportunities
Key Challenges
- Competition from larger banks and fintech companies
- Maintaining profitability in a low-interest-rate environment
- Adapting to changing customer expectations and technological advancements
Potential Opportunities
- Expanding into new markets within Alaska
- Launching innovative products and services
- Forming strategic partnerships to enhance offerings
Recent Acquisitions
Northrim BanCorp Inc. has not undertaken any acquisitions in the last three years.
AI-Based Fundamental Rating
Based on an AI-analysis of Northrim BanCorp Inc., the company receives a rating of 7 out of 10. This rating reflects the company's strong financial performance, consistent growth trajectory, and favorable market positioning. However, the limited market share and potential challenges from competitors necessitate a cautious approach.
Sources and Disclaimers
- Northrim BanCorp Inc. Investor Relations website: https://www.northrim.com/investor-relations/
- Annual Reports and SEC Filings: https://www.sec.gov/edgar/search/
- YCharts: https://ycharts.com/companies/NRZ/financials
- Morningstar: https://www.morningstar.com/stocks/xnas/nrz/quote
Disclaimer: This information is for educational purposes only and should not be considered investment advice. It is essential to conduct your own research and consult with a financial professional before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Northrim BanCorp Inc
Exchange | NASDAQ | Headquaters | Anchorage, AK, United States |
IPO Launch date | 1993-10-25 | President, COO, CEO & Director | Mr. Michael G. Huston |
Sector | Financial Services | Website | https://www.northrim.com |
Industry | Banks - Regional | Full time employees | 472 |
Headquaters | Anchorage, AK, United States | ||
President, COO, CEO & Director | Mr. Michael G. Huston | ||
Website | https://www.northrim.com | ||
Website | https://www.northrim.com | ||
Full time employees | 472 |
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 through 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 app 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, corporate purchase cards, integrated payables, 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 services. The company was founded in 1990 and is headquartered in Anchorage, Alaska.
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