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Northrim Bancorp
(NASDAQ:NRIM)
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Rating:66Neutral
Price Target:
$26.00
â–²(1.80% Upside)
Action:Downgraded
Date:10/31/26
NRIM’s score is driven primarily by solid underlying financial performance (revenue growth, profitability, and reasonable leverage), supported by attractive valuation (low P/E and a ~2.7% dividend yield). These positives are offset by weak technical momentum (trading below key moving averages with negative MACD) and event-driven risk from the recent impairment and elevated credit-loss provisioning, despite progress on the PBCO acquisition.
Positive Factors
Multi-year revenue growth
The substantial increase in revenue across several years indicates sustained expansion of Northrim’s banking activity rather than reliance on a single reporting period. Continued top-line growth can support reinvestment, broaden the customer base, and strengthen earnings capacity over the next several quarters.
Negative Factors
Specialty-finance impairment
The impairment shows that specialty-finance exposures can create material earnings volatility when collateral values and expected recoveries deteriorate. Recovery timing remains uncertain, so this event could continue weighing on results and highlights concentration risk within an otherwise broader banking platform.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue growth
The substantial increase in revenue across several years indicates sustained expansion of Northrim’s banking activity rather than reliance on a single reporting period. Continued top-line growth can support reinvestment, broaden the customer base, and strengthen earnings capacity over the next several quarters.
Read all positive factors
Northrim Bancorp (NRIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$530.54M
Dividend Yield2.73%
Average Volume (3M)147.25K
Price to Earnings (P/E)9.5
Beta (1Y)0.84
Revenue Growth2.77%
EPS Growth-11.91%
CountryUS
Employees516
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.52
Shares Outstanding22,244,766
10 Day Avg. Volume158,259
30 Day Avg. Volume147,247
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.80
Price to Sales (P/S)2.42
P/FCF Ratio4.39
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue2.35
Enterprise Value/Gross Profit2.94
Enterprise Value/Ebitda7.68
Forecast
1Y Price Target
$29.50Price Target Upside15.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.65
Revenue Forecast (FY)$215.30M
Northrim Bancorp Business Overview & Revenue Model
Company Description
Northrim BanCorp, Inc. functions as the parent entity for Northrim Bank, which delivers a comprehensive range of commercial banking products and services primarily to businesses and professional clients. Its operations are divided into two main di...
How the Company Makes Money
Northrim Bancorp primarily makes money through its banking subsidiary by earning (1) net interest income and (2) noninterest income. Net interest income is generated from the spread between interest earned on interest-earning assets—most notably l...
Northrim Bancorp Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 255.90M | 242.53M | 195.96M | 158.33M | 134.41M | 136.87M |
| Gross Profit | 204.40M | 197.48M | 151.93M | 125.79M | 127.35M | 137.19M |
| EBITDA | 78.35M | 89.68M | 50.60M | 34.92M | 41.66M | 52.47M |
| Net Income | 55.87M | 64.61M | 36.97M | 25.39M | 30.74M | 37.52M |
Balance Sheet | ||||||
| Total Assets | 3.58B | 3.29B | 3.04B | 2.81B | 2.67B | 2.72B |
| Cash, Cash Equivalents and Short-Term Investments | 725.41M | 343.94M | 541.35M | 756.47M | 936.38M | 1.07B |
| Total Debt | 93.64M | 87.67M | 40.84M | 33.08M | 34.27M | 35.78M |
| Total Liabilities | 3.22B | 2.96B | 2.77B | 2.57B | 2.46B | 2.49B |
| Stockholders Equity | 356.11M | 326.54M | 267.12M | 234.72M | 218.63M | 237.82M |
Cash Flow | ||||||
| Free Cash Flow | 85.83M | 133.87M | -9.35M | 32.61M | 74.28M | 109.48M |
| Operating Cash Flow | 88.05M | 139.34M | -8.73M | 38.92M | 78.12M | 111.99M |
| Investing Cash Flow | -248.13M | -223.43M | -197.63M | -254.92M | -405.57M | -159.09M |
| Financing Cash Flow | 189.22M | 167.26M | 150.56M | 75.33M | -58.98M | 576.96M |
Northrim Bancorp Technical Analysis
Negative
25.54
Price Trends
24.85
Negative
25.73
Negative
24.88
Negative
Market Momentum
-0.29
Negative
43.72
Neutral
62.68
Neutral
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 25.54 is above the 20-day moving average (MA) of 24.08, above the 50-day MA of 24.85, and above the 200-day MA of 24.88, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 43.72 is Neutral, neither overbought nor oversold. The STOCH value of 62.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NRIM.
Northrim Bancorp Risk Analysis
Northrim Bancorp disclosed 9 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $665.52M | 11.41 | 14.73% | 1.49% | 5.91% | 44.03% | |
79 Outperform | $364.06M | 11.68 | 11.72% | 2.48% | 3.87% | 8.03% | |
77 Outperform | $543.29M | 10.74 | 13.89% | 2.48% | -1.49% | 34.62% | |
77 Outperform | $438.77M | 10.42 | 15.86% | 2.05% | 24.22% | 39.38% | |
75 Outperform | $558.50M | 13.48 | 15.74% | 1.89% | -1.46% | -5.48% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $530.54M | 9.46 | 16.36% | 2.73% | 2.77% | -11.91% |
* Financial Sector Average
NRIM
Northrim Bancorp
23.85
2.26
10.49%
PLBC
Plumas Bancorp
63.05
23.13
57.96%
BSRR
Sierra Bancorp
41.90
14.02
50.30%
TSBK
Timberland Bancorp
46.82
15.31
48.60%
BSVN
Bank7
58.63
18.03
44.42%
WCCB
West Coast Community Bancorp
63.30
22.92
56.76%
Northrim Bancorp Corporate Events
Business Operations and StrategyM&A TransactionsShareholder Meetings
Northrim Shareholders Approve Acquisition of PBCO Financial
Positive
Oct 22, 2026
On October 20, 2026, Northrim BanCorp held a virtual special meeting at which shareholders approved the issuance of Northrim common stock as consideration for the planned acquisition of PBCO Financial Corporation, with 72% of eligible shares repre...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Northrim Bancorp Reports Lower Earnings Amid Impairment
Negative
Oct 15, 2026
On October 15, 2026, Northrim BanCorp reported third-quarter 2026 net income of $14.4 million, or $0.63 per diluted share, down from $27.1 million, or $1.20 per share, a year earlier, largely due to a higher provision for credit losses tied to a s...
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.