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Why Northrim BanCorp (NRIM) Could Be Positioned for a Surge

Zacks

Northrim BanCorp, Inc. NRIM is a commercial bank that provides a range of personal and business banking services that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NRIM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Northrim BanCorp could be a solid choice for investors.

Current Quarter Estimates for NRIM

In the past 30 days, one estimate have gone higher for Northrim BanCorp while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 57 cents a share 30 days ago, to 95 cents today, a move of 66.7%.

Current Year Estimates for NRIM

Meanwhile, Northrim BanCorp’s current year figures are also looking quite promising, with one estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.14 per share 30 days ago to $2.51 per share today, an increase of 17.3%.

Northrim BanCorp Inc Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 6.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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