Northrim BanCorp Inc (NASDAQ:NRIM) Director Larry S. Cash acquired 645 shares of the stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $30.25 per share, for a total transaction of $19,511.25. Following the purchase, the director now directly owns 3,776 shares in the company, valued at $114,224. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Northrim BanCorp Inc (NASDAQ NRIM) traded up 1.82% during trading on Friday, hitting $30.85. 67,369 shares of the stock traded hands. The company has a 50 day moving average of $28.69 and a 200-day moving average of $29.81. The company has a market cap of $213.17 million, a PE ratio of 15.35 and a beta of 0.59. Northrim BanCorp Inc has a 1-year low of $24.35 and a 1-year high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Monday, July 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. The company had revenue of $23.96 million for the quarter, compared to the consensus estimate of $24.70 million. On average, equities analysts anticipate that Northrim BanCorp Inc will post $2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, September 7th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.85%. Northrim BanCorp’s dividend payout ratio is presently 43.78%.
Institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its position in Northrim BanCorp by 6.9% during the 1st quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 267 shares during the period. Bank of America Corp DE lifted its position in Northrim BanCorp by 6.1% during the 1st quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 353 shares during the period. Nationwide Fund Advisors lifted its position in Northrim BanCorp by 37.7% during the 2nd quarter. Nationwide Fund Advisors now owns 6,214 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 1,700 shares during the period. Rhumbline Advisers acquired a new position in Northrim BanCorp during the 2nd quarter valued at about $222,000. Finally, New York State Common Retirement Fund lifted its position in Northrim BanCorp by 119.1% during the 2nd quarter. New York State Common Retirement Fund now owns 8,092 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 4,399 shares during the period. Institutional investors own 71.15% of the company’s stock.
Separately, ValuEngine raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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