It seems to be a wise idea to add Northrim BanCorp, Inc. NRIM stock to your portfolio now amid the coronavirus pandemic, given the strength in the company’s fundamentals and solid prospects. Moreover, its steady capital-deployment activities reflect a strong balance-sheet position.
Further, analysts are bullish on the stock. Over the past 60 days, the Zacks Consensus Estimate for earnings moved 42.2% and 6.3% upward for 2020 and 2021, respectively. The company currently sports a Zacks Rank #1 (Strong Buy).
Shares of Northrim have gained 9% in the past three months as against the industry’s 1.2% fall.
Factors That Make Northrim a Solid Pick
Earnings Growth: Over the past three to five years, Northrim has recorded earnings growth of 5.5%. This momentum is likely to continue in the near term, reflected by the projected earnings growth rate of 28.6% for 2020 (against the projection of a 19.9% decline for the