Recent News
On May 15, 2026 Northrim announced it awarded matching Federal Home Loan Bank member impact grants to 31 Alaska nonprofits, reaching the program maximum and supporting affordable housing and community development.
On February 19, 2026 a block of 43,952 shares in Northrim BanCorp registered as purchased by Redmont Wealth Advisors LLC, a reported secondary-market block transaction.
On February 20, 2026 Brean Capital resumed coverage with a BUY stance and published a sector analysis outlining above-peer net interest margin expectations and a $31.00 price target.
Technical Analysis
ADX at 12.7 signals no prevailing trend; directional strength lacks conviction and reduces reliance on momentum-driven breakouts for the immediate outlook.
DI+ shows a dip & reversal, a bullish indication; DI- sits at 24.08 and is increasing, a bearish indication. The coexistence of a DI+ dip & reversal and rising DI- with a low ADX implies short-term directional tug-of-war rather than a sustained trend that would invalidate the current valuation view.
MACD reads -0.11 and the MACD trend is decreasing while the MACD signal sits at 0.01; the negative, declining MACD represents bearish momentum and no bullish MACD crossover exists to confirm acceleration.
MRO at -10.1 (decreasing) shows price below the model target and therefore latent upside potential if momentum shifts; the negative oscillator signals an objective gap between current price and modeled fair value that could compress with improving fundamentals or positive news flow.
RSI at 49.42 with a dip & reversal displays a nascent upward impulse off neutral levels; the RSI’s reversal suggests short-term buying pressure may materialize, but momentum confirmation requires improvement in MACD or ADX.
Price sits marginally below the 20-day average ($24.08) and the 200-day average ($23.87), while remaining slightly above the 50-day average ($23.78); short-term moving averages trend lower (12-day EMA decreasing), indicating that near-term price bias favors consolidation under short-term resistance. Bollinger bands encompass the current range (upper ~$24.64, lower ~$23.52), and the super trend upper at $24.85 serves as a nearby resistance level to monitor for any momentum-driven break.
Fundamental Analysis
Q1 results show diluted EPS of $0.61 versus an estimate of $0.53, a $0.08 beat representing a 15.09% surprise; total revenue for the quarter registered at $49,540,000.
Profitability and cash generation: return on equity equals 4.07% and return on assets equals 0.412%; operating cash flow reached $27,217,000 and free cash flow totaled $24,326,000, yielding a free cash flow yield of 4.52%—above the industry peer mean of 1.57%—which supports the WMDST assessment of undervaluation.
Capital structure and balance-sheet metrics: total assets stand at $3,354,908,000 with total equity of $335,809,000; debt-to-equity sits at 0.278 (27.85%) and debt-to-assets at 2.787%—both consistent with a conservatively capitalized regional bank footprint.
Growth dynamics: reported revenue growth QoQ equals 5.04% and revenue growth year-over-year equals 5.97%; headline revenue growth (0.25765 in the data) converts to 25.77% when expressed as a percentage and indicates pockets of expansion in fee and specialty finance businesses that analysts highlight as durable. Earnings growth metrics show mixed periodic movement: trailing-period earnings growth registers 12.96% while reported year-over-year earnings movement in other labels indicates declines in certain comparisons; the quarter’s EPS beat and cash metrics nevertheless underwrite near-term earnings resilience.
Valuation multiples: P/E equals 39.65, below the industry peer mean of 47.65 and below the industry peer median of 45.37; P/B equals 1.60, above the industry peer mean of 1.25 and above the industry peer median of 1.22 but well inside the industry peer range high of 1.99. PEG sits at 3.06 with an industry peer mean that spans negative to positive values, suggesting elevated multiple relative to near-term growth rates. Enterprise value ratio (EVR) stands at 12.75 and the forward P/E equals 35.05. These multiples show relative cheapness versus peer earnings multiples while P/B runs modestly above peer averages.
Dividend profile: declared quarterly dividend per share equals $0.1599 and the dividend yield equals 0.66%; payout ratio equals 26.01% with dividend coverage of 3.84x, indicating the dividend sits on a conservative coverage footing relative to earnings and cash flow.
Valuation summary: WMDST values the stock as under-valued based on a combination of a below-peer P/E versus peer mean and median, a free cash flow yield materially above the industry peer mean, positive EPS surprise in the most recent quarter, and conservative balance-sheet leverage. Countervailing inputs include a P/B above the peer mean and mixed multi-period earnings growth readings that deserve monitoring.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-22 |
| NEXT REPORT DATE: | 2026-07-22 |
| CASH FLOW | Begin Period Cash Flow | $ 145.9 M |
| Operating Cash Flow | $ 27.2 M | |
| Capital Expenditures | $ -2.89 M | |
| Change In Working Capital | $ -8.07 M | |
| Dividends Paid | $ -3.56 M | |
| Cash Flow Delta | $ 9.0 M | |
| End Period Cash Flow | $ 154.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 49.5 M | |
| Forward Revenue | $ 13.9 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 855.0 K | |
| Depreciation and Amortization | $ 855.0 K | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 44.6 M | |
| Interest Expense | $ 10.2 M | |
| Net Interest Income | $ 34.4 M | |
| Income Before Tax | $ 18.0 M | |
| Tax Provision | $ 4.3 M | |
| Tax Rate | 23.85 % | |
| Net Income | $ 13.7 M | |
| Net Income From Continuing Operations | $ 13.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.53 | |
| EPS Actual | $ 0.61 | |
| EPS Difference | $ 0.08 | |
| EPS Surprise | 15.094 % | |
| Forward EPS | $ 0.69 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.4 B | |
| Intangible Assets | $ 79.2 M | |
| Net Tangible Assets | $ 256.6 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 154.9 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 93.5 M | |
| Total Liabilities | $ 3.0 B | |
| EQUITY | ||
| Total Equity | $ 335.8 M | |
| Retained Earnings | $ 319.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 15.10 | |
| Shares Outstanding | 22.245 M | |
| Revenue Per-Share | $ 2.23 | |
| VALUATION | Market Capitalization | $ 538.0 M |
| Enterprise Value | $ 631.5 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 12.747 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 9.991 | |
| Asset To Liability | 1.111 | |
| Debt To Capital | 0.218 | |
| Debt To Assets | 0.028 | |
| Debt To Assets QoQ | 4.578 % | |
| Debt To Assets YoY | 181.231 % | |
| Debt To Assets IPRWA | high: 0.145 median: 0.065 mean: 0.057 NRIM: 0.028 low: -0.0 |
|
| Debt To Equity | 0.278 | |
| Debt To Equity QoQ | 3.717 % | |
| Debt To Equity YoY | 150.256 % | |
| Debt To Equity IPRWA | high: 1.682 median: 0.612 mean: 0.547 NRIM: 0.278 low: -0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.602 | |
| Price To Book QoQ | -8.742 % | |
| Price To Book YoY | 8.155 % | |
| Price To Book IPRWA | high: 1.989 NRIM: 1.602 mean: 1.251 median: 1.216 low: 0.287 |
|
| Price To Earnings (P/E) | 39.647 | |
| Price To Earnings QoQ | -17.419 % | |
| Price To Earnings YoY | 30.998 % | |
| Price To Earnings IPRWA | high: 85.229 mean: 47.647 median: 45.368 NRIM: 39.647 low: 28.296 |
|
| PE/G Ratio | 3.058 | |
| Price To Sales (P/S) | 10.86 | |
| Price To Sales QoQ | 24.778 % | |
| Price To Sales YoY | 19.231 % | |
| Price To Sales IPRWA | high: 26.967 mean: 14.404 median: 13.314 NRIM: 10.86 low: 0.11 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 35.047 | |
| Forward PE/G | 2.704 | |
| Forward P/S | 38.842 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.015 | |
| Asset Turnover Ratio QoQ | -25.263 % | |
| Asset Turnover Ratio YoY | 1.291 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 NRIM: 0.015 mean: 0.01 median: 0.01 low: 0.005 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.058 | |
| CapEx To Depreciation | -3.381 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 417.5 M | |
| Net Invested Capital | $ 417.5 M | |
| Invested Capital | $ 417.5 M | |
| Net Tangible Assets | $ 256.6 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 13.606 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 3.845 | |
| Dividend Payout Ratio | 0.26 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.007 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.964 % | |
| Revenue Growth | 25.765 % | |
| Revenue Growth QoQ | 504.245 % | |
| Revenue Growth YoY | 596.54 % | |
| Revenue Growth IPRWA | NRIM: 25.765 % high: 25.102 % mean: 4.798 % median: 0.992 % low: -18.912 % |
|
| Earnings Growth | 12.963 % | |
| Earnings Growth QoQ | -154.139 % | |
| Earnings Growth YoY | -54.511 % | |
| Earnings Growth IPRWA | high: 41.86 % NRIM: 12.963 % mean: -2.307 % median: -2.963 % low: -43.519 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 24.3 M | |
| Free Cash Flow Yield | 4.522 % | |
| Free Cash Flow Yield QoQ | -19.794 % | |
| Free Cash Flow Yield YoY | 14.742 % | |
| Free Cash Flow Yield IPRWA | high: 9.074 % NRIM: 4.522 % mean: 1.567 % median: 1.515 % low: -3.189 % |
|
| Free Cash Growth | -24.739 % | |
| Free Cash Growth QoQ | -61.385 % | |
| Free Cash Growth YoY | -55.675 % | |
| Free Cash Growth IPRWA | high: 299.762 % NRIM: -24.739 % median: -50.617 % mean: -59.733 % low: -368.012 % |
|
| Free Cash To Net Income | 1.779 | |
| Cash Flow Margin | 29.33 % | |
| Cash Flow To Earnings | 1.063 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 0.412 % | |
| Return On Assets QoQ | 9.284 % | |
| Return On Assets YoY | -4.408 % | |
| Return On Assets IPRWA | high: 0.612 % NRIM: 0.412 % median: 0.255 % mean: 0.253 % low: 0.065 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.041 | |
| Return On Equity QoQ | 6.877 % | |
| Return On Equity YoY | -14.508 % | |
| Return On Equity IPRWA | high: 0.043 NRIM: 0.041 median: 0.023 mean: 0.022 low: 0.001 |
|
| DuPont ROE | 4.129 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |