Northrim Bank (NRIM, Financial) has announced a significant financial achievement in its latest quarterly report, revealing a tangible book value per share of $41.47 for the first quarter. This milestone underscores the bank's strong earnings performance, driven by a strategic focus on growth through market share expansion.
The bank attributes its financial success to a long-standing commitment to investing in its personnel and banking infrastructure, ensuring the delivery of top-tier customer service. This strategic vision is expected to sustain future growth and further enhance Northrim's market position.
As the bank continues to prioritize serving its customers and the broader community, confidence remains high that these efforts will yield ongoing profitability and expansion in the coming quarters.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Northrim BanCorp Inc (NRIM, Financial) is $99.00 with a high estimate of $99.00 and a low estimate of $99.00. The average target implies an upside of 31.54% from the current price of $75.26. More detailed estimate data can be found on the Northrim BanCorp Inc (NRIM) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Northrim BanCorp Inc's (NRIM, Financial) average brokerage recommendation is currently 1.5, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Northrim BanCorp Inc (NRIM, Financial) in one year is $60.46, suggesting a downside of 19.67% from the current price of $75.26. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Northrim BanCorp Inc (NRIM) Summary page.
