Northrim BanCorp, Inc. (NRIM) Formed Bullish Double Top Chart Pattern; Buyers Could Thrive

May 16, 2018 - By Jane Hopkins

Investors sentiment decreased to 1.19 in 2017 Q4. Its down 0.59, from 1.78 in 2017Q3. It is negative, as 4 investors sold Northrim BanCorp, Inc. shares while 28 reduced holdings. 15 funds opened positions while 23 raised stakes. 4.77 million shares or 1.99% less from 4.87 million shares in 2017Q3 were reported.
State Bank Of Mellon Corp has 40,803 shares for 0% of their portfolio. Seizert Cap Limited Liability Corporation has invested 0.11% of its portfolio in Northrim BanCorp, Inc. (NASDAQ:NRIM). 47,519 were reported by Martingale Asset Mgmt Limited Partnership. 30,000 were accumulated by Corda Invest Mngmt Limited Liability Company. Moreover, Renaissance Techs Ltd Liability Corp has 0% invested in Northrim BanCorp, Inc. (NASDAQ:NRIM). Stifel Financial owns 46,600 shares. Barclays Public Limited holds 0% or 1,075 shares. California Pub Employees Retirement Systems reported 49,674 shares. Menta Limited Liability Com accumulated 7,627 shares or 0.05% of the stock. Fifth Third Bancshares has invested 0% in Northrim BanCorp, Inc. (NASDAQ:NRIM). Dalton Greiner Hartman Maher Co holds 0.12% or 66,703 shares. Metropolitan Life Insurance Ny reported 2,462 shares stake. Bessemer Group Inc has invested 0% in Northrim BanCorp, Inc. (NASDAQ:NRIM). Parallax Volatility Advisers Ltd Partnership invested in 0% or 1,008 shares. Manufacturers Life The reported 224,120 shares.

Since May 7, 2018, it had 0 insider buys, and 1 insider sale for $12,179 activity.

The chart of Northrim BanCorp, Inc. (NRIM) shows a double top with $40.10 target or 5.00 % above today’s $38.19 share price. The 6 months chart pattern indicates low risk for the $262.46 million company. It was reported on May, 16 by If the $40.10 price target is reached, the company will be worth $13.12 million more. Double tops are rare but powerful chart patterns.

The stock increased 3.22% or $1.193 during the last trading session, reaching $38.193. About 5,959 shares traded. Northrim BanCorp, Inc. (NASDAQ:NRIM) has risen 16.67% since May 16, 2017 and is uptrending. It has outperformed by 5.12% the S&P500.

Analysts await Northrim BanCorp, Inc. (NASDAQ:NRIM) to report earnings on July, 30. They expect $0.62 earnings per share, up 21.57 % or $0.11 from last year’s $0.51 per share. NRIM’s profit will be $4.26 million for 15.40 P/E if the $0.62 EPS becomes a reality. After $0.58 actual earnings per share reported by Northrim BanCorp, Inc. for the previous quarter, Wall Street now forecasts 6.90 % EPS growth.

Another recent and important Northrim BanCorp, Inc. (NASDAQ:NRIM) news was published by which published an article titled: “Northrim BanCorp First Quarter 2018 Net Income Increases 6% to $4.1 Million, or $0.58 per Diluted Share” on April 30, 2018.

Northrim BanCorp, Inc. operates as the bank holding firm for Northrim Bank that provides commercial banking services and products to businesses and professionals in Alaska. The company has market cap of $262.46 million. The firm operates in two divisions, Community Banking and Home Mortgage Lending. It has a 20.32 P/E ratio. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.

Northrim BanCorp, Inc. (NASDAQ:NRIM) Institutional Positions Chart

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