Recent News
On May 15, 2026 Northrim awarded funding to 31 Alaska nonprofit organizations via the FHLB Member Impact Grant Program, matching contributions up to the program maximum; on June 10, 2026 the company announced eleven officer promotions and three new hires across commercial and branch roles.
Technical Analysis
ADX sits at 13.02, indicating no established trend; under that environment, short-term momentum swings will likely drive price action rather than a persistent directional trend.
DI+ at 21.75 (increasing) and DI- at 18.42 (decreasing) present a bullish directional signal: positive directional movement currently outweighs negative, supporting a near-term price bias toward short-term resistance levels.
MACD reads 0.22 and trends higher with a signal line at 0.12; MACD has crossed above its signal line, which represents bullish momentum and suggests recent acceleration in buying interest.
MRO stands at -16.65 and is rising; the negative value indicates price sits below the regression target and the rising MRO implies measurable upside pressure as the price reverts toward model expectations.
RSI at 53.89 with a dip & reversal indicates the indicator recovered from a pullback and now stabilizes in a neutral-to-slightly bullish posture, consistent with a mild continuation of upward momentum rather than an overbought state.
Price relationships favor the bulls in the very short term: the close of $25.52 trades above the 20-day average ($24.74), 50-day average ($24.45) and 200-day average ($23.97); the 12-day EMA trends higher, reinforcing short-term constructive bias while Bollinger bands show the price near the upper band—allowing room for a modest extension but also flagging proximity to short-term resistance.
Volume at 104,811 tracks in line with the 10-day average (102,791) and below the 200-day average (150,842), signaling continuation without strong conviction from a volume perspective; lower ADX keeps the edge with momentum indicators rather than a durable trend.
Fundamental Analysis
First-quarter results reported net income of $13.7 million and diluted EPS of $0.61 versus an estimate of $0.53, producing an EPS surprise of 15.09%. The company reported liquid assets and available borrowing capacity that support balance-sheet flexibility.
Profitability and efficiency: return on assets equals 0.412% and return on equity equals 4.072%; both exceed the industry peer mean for the same metrics (ROA industry peer mean 0.253%, ROE industry peer mean 2.222%), indicating relatively stronger capital efficiency versus peers on these measures.
Revenue and cash flow: total revenue registers at $49,540,000 with revenue growth reported at 25.77% (use label: revenue growth). Operating cash flow and free cash flow measure $27,217,000 and $24,326,000 respectively; the free cash flow yield stands at 4.52%, above the industry peer mean of 1.775%, implying superior free-cash generation relative to the industry peer mean.
Capital structure and book value: tangible book value per share sits at $15.10 and book value at $15.10; debt-to-equity of 0.278 indicates conservative leverage relative to many regional peers. Dividend policy remains in place with a dividend rate of $0.1599 per share and a dividend yield of 0.66%.
Valuation multiples: P/B equals 1.60, above the industry peer mean of 1.24952 and the industry peer median of 1.21571 but within the industry peer range (low 0.28724 to high 1.98865), signaling a premium to typical peers on book-value terms. Trailing P/E equals 39.65, below the industry peer mean of 47.43, while forward P/E at 35.05 sits below the industry peer mean for forward P/E, suggesting the market prices Northrim at a valuation that, on earnings multiples, runs below the peer average even as the P/B trades above the peer mean.
Growth dynamics show mixed signals: reported earnings growth at 12.96% contrasts with the provided year-over-year earnings-growth figure; revenue growth and several QoQ improvements suggest operating momentum, while free-cash growth metrics show contraction in recent periods. WMDST values the stock as under-valued based on the firm’s cash-flow profile and relative multiples versus the industry peer mean.
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: 0.062 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: 0.597 mean: 0.546 NRIM: 0.278 low: -0.315 |
|
| 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: 1.25 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: 47.426 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: 14.324 median: 13.162 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 | high: 29.228 % NRIM: 25.765 % mean: 5.167 % median: 1.084 % low: -23.976 % |
|
| Earnings Growth | 12.963 % | |
| Earnings Growth QoQ | -154.139 % | |
| Earnings Growth YoY | -54.511 % | |
| Earnings Growth IPRWA | high: 41.86 % NRIM: 12.963 % mean: -2.349 % median: -3.008 % 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: 9.54 % NRIM: 4.522 % mean: 1.775 % median: 1.706 % 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: -59.254 % 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 | — | |