Stock fact sheet · data as of
Northrim BanCorp, Inc. (NRIM): fair value, margin of safety and Wheel Score
Financial Services · Banks - Regional · United States · High Growth
Is NRIM undervalued?
Northrim BanCorp, Inc. (NRIM) closed at 24.43 on 16 Oct 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 82.21, which puts the price 70% below it. 7 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 9 models disagree widely: DDM gives 9.56 while Payback Time gives 247.65. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files NRIM under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for NRIM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 32.68 | +34% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 30.08 | +23% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 43.18 | +77% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 11.41 | -53% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 151.98 | +522% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 185.47 | +659% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 247.65 | +914% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 9.56 | -61% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 27.90 | +14% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -117.09 | -579% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 30.00 | +23% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - NRIM passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 8.6 out of 10, built from ten years of revenue, earnings, margins, cash flow, share count and returns on capital scored for consistency - a high reading that points to a durable business.
Returns on capital are high - ROIC 15.6%, ROE 19.8%, ROA 2.0% - with debt at 0.27 times equity and a free-cash-flow yield of 34.2%.
The dividend yield is 2.66% at a payout ratio of 26%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Credit and Debit Card 59%, Deposit Account 41% (quarter Q2 FY2026).
Institutional ownership scores 9/10, insider activity 3/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 15.6% |
|---|---|---|---|
| GLS Moat | 8.6 / 10 | ROE | 19.8% |
| Debt / equity | 0.27 | ROA | 2.0% |
| Free-cash-flow yield | 34.2% | Payout ratio | 26% |
| Institutions | 9 / 10 | Insiders · Congress | 3 · 5 / 10 |
Wheel Score 76: Good
NRIM scores 76 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 25/25), Piotroski health (11/20), the GLS moat (13/15), the option premium on offer (20/20) and how easily the stock trades (7/20). Stability (7/20) is the part holding the score back.
Implied volatility is 56% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 100 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 120k shares a day on a market cap of $543M, with a beta of 0.92; the Stability part of the Wheel Score gives that 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 70% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 13 / 15 | moat 8.6/10 | |
| Premium | 20 / 20 | implied volatility 56% | |
| Stability | 7 / 20 | 120k shares/day, $543M cap, beta 0.92 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Northrim BanCorp, Inc. reports earnings on 28 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Northrim BanCorp, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CWBC Community West Bancshares | 25.77 | 46.09 | +44% | 70Good | $543M |
| NPB Northpointe Bancshares, Inc. | 15.62 | 47.93 | +67% | 39No options | $540M |
| UNTY Unity Bancorp, Inc. | 54.53 | 73.48 | +26% | 69Good | $548M |
| CIVB Civista Bancshares, Inc. | 26.85 | 37.06 | +28% | 71Good | $558M |
| BSVN Bank7 Corp. | 55.49 | 109.57 | +49% | 39No options | $529M |
| SFST Southern First Bancshares, Inc. | 59.22 | 74.22 | +20% | 69Good | $561M |
| BWB Bridgewater Bancshares, Inc. | 20.37 | 25.80 | +21% | 65Good | $568M |
| BWFG Bankwell Financial Group, Inc. | 65.17 | 98.46 | +34% | 39No options | $520M |
| KRNY Kearny Financial Corp. | 9.01 | 18.53 | +51% | 77Good | $569M |
| HBCP Home Bancorp, Inc. | 65.87 | 90.49 | +27% | 80Prime | $518M |
| FFMR First Farmers Financial Corporation | 37.25 | 61.90 | +40% | 39No options | $517M |
| BWBBP Bridgewater Bancshares, Inc. | 19.38 | 25.09 | +23% | 39No options | $575M |
⚖ Compare NRIM with 7 of them All Financial Services stocks →
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about NRIM
Is NRIM undervalued right now?
By the GLS models, yes: at 24.43 the stock is 70% below the average fair value of 82.21 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of NRIM and what does it mean?
NRIM scores 76 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for NRIM?
82.21 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Northrim BanCorp, Inc. report earnings next?
The next earnings report is due on 28 Oct 2026 (after the close), 12 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does NRIM have listed options, and how liquid are they?
Yes. The nightly snapshot found 76 listed contracts with 100 open interest across all expiries and implied volatility of 56% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.