Revenue Update on Northrim BanCorp(NASDAQ:NRIM)

Northrim BanCorp(NASDAQ:NRIM) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $25.94M. Analysts estimated a revenue of $14.40M. Earnings per share were $0.63. Analysts had estimated an EPS of $0.64.

Northrim BanCorp (NRIM) shares turned negative on Mondays trading session with the shares closing down -0.02 points or -0.07% at a volume of 29,029. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $26.97. The peak price level was also seen at $26.97 while the days lowest was $26.31. Finally the shares closed at $26.67. The 52-week high of the shares is $29.75 while the 52-week low is $21.6. According to the latest information available, the market cap of the company is $183 M.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Karl L Hanneman (director) purchased 500 shares at $25.35 per share price.Also, On Jun 15, 2016, Murphy Krystal Nelson (director) purchased 400 shares at $26.00 per share price.On Jun 9, 2016, David J Mccambridge (director) purchased 850 shares at $26.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Northrim BanCorp Inc. is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 14 branches throughout Alaska. The Home Mortgage Lending segment’s principal business focus is the origination and sale of mortgage loans for one-to-four family residential properties. The Company has four wholly owned subsidiaries: Northrim Bank (the Bank) Northrim Investment Services Company (NISC) Northrim Capital Trust I (NCTI) and Northrim Statutory Trust 2 (NST2). The Bank has two wholly owned subsidiaries: Northrim Capital Investments Co. (NCIC) and Northrim Building LLC (NBL).

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