Northrim BanCorp Inc. Stock Downgraded By TheStreet Ratings (NRIM)

NEW YORK (TheStreet) -- Northrim BanCorp (Nasdaq:NRIM) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, notable return on equity and expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.

Northrim BanCorp, Inc., through its subsidiaries, which provides a range of banking products and services to businesses, professionals, and individuals in Alaska. The company has a P/E ratio of 13.2, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 22.7. Northrim BanCorp has a market cap of $118.3 million and is part of the financial sector and banking industry. The stock last closed at $18.45 and the average volume of shares traded for Northrim BanCorp has been 6,100 shares per day over the past 30 days. Shares are down 4.2% year to date as of the close of trading on Wednesday.

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