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Keefe, Bruyette & Woods lowered their target price on Northrim BanCorp from $30.00 to $29.00 and set a "market perform" rating on the stock in a report on Monday.
Adjusted EPS of $0.60 missed analyst consensus of $0.69 by 14.29%. Quarterly sales of $38.887 million beat estimates by 0.48%, up 10.02% YoY. Net income fell to $14.4 million due to $7.7 million credit loss provision. NIMTE remained strong at 5.02%, with net interest income rising 5% QoQ.