Northrim (NRIM) Upgraded to Strong Buy: Here's What You Should Know

Core Viewpoint - Northrim BanCorp (NRIM) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Northrim indicate an improvement in the company's underlying business, likely leading to increased stock prices [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7][9]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, indicating superior earnings estimate revisions [10]. Earnings Estimate Revisions for Northrim - Northrim is expected to earn $6.38 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 42.1% [8]. - Over the past three months, the Zacks Consensus Estimate for Northrim has increased by 9.4% [8].