Northrim BanCorp (NRIM) got here out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.19 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 14.71%. 1 / 4 in the past, it was anticipated that this holding firm for Northrim Financial institution would submit earnings of $1.53 per share when it really produced earnings of $1.57, delivering a shock of two.61%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Northrim
The sustainability of the inventory’s instant value motion primarily based on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Northrim shares have added about 1.1% because the starting of the yr versus the S&P 500’s acquire of 4%.
What’s Subsequent for Northrim?
Whereas Northrim has underperformed the market thus far this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Northrim: blended. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $1.66 on $44.1 million in revenues for the approaching quarter and $7.96 on $188.1 million in revenues for the present fiscal yr.
Buyers must be conscious of the truth that the outlook for the trade can have a cloth affect on the efficiency of the inventory as effectively. By way of the Zacks Trade Rank, Banks – West is at the moment within the prime 38% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Financial institution of Marin (BMRC), one other inventory in the identical trade, has but to report outcomes for the quarter ended December 2024. The outcomes are anticipated to be launched on January 27.
This financial institution holding firm is predicted to submit quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +13.3%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Financial institution of Marin’s revenues are anticipated to be $28.4 million, up 35.3% from the year-ago quarter.
Ought to You Spend money on Northrim BanCorp Inc (NRIM)?
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Northrim BanCorp Inc (NRIM) : Free Stock Analysis Report
Bank of Marin Bancorp (BMRC) : Free Stock Analysis Report
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