Northrim BanCorp Inc (NASDAQ:NRIM) Director Larry S. Cash acquired 350 shares of the stock in a transaction on Wednesday, September 13th. The shares were bought at an average price of $30.23 per share, for a total transaction of $10,580.50. Following the purchase, the director now owns 3,776 shares in the company, valued at $114,148.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Northrim BanCorp Inc (NRIM) traded up 1.82% during trading on Friday, reaching $30.85. The company’s stock had a trading volume of 67,369 shares. The company has a market cap of $213.17 million, a price-to-earnings ratio of 15.35 and a beta of 0.59. The stock’s 50 day moving average is $28.69 and its 200 day moving average is $29.81. Northrim BanCorp Inc has a 12 month low of $24.35 and a 12 month high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last issued 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 business had revenue of $23.96 million for the quarter, compared to analysts’ expectations of $24.70 million. On average, equities analysts expect 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 issued a dividend of $0.22 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.88 dividend on an annualized basis and a yield of 2.85%. Northrim BanCorp’s payout ratio is presently 43.78%.
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A number of hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in Northrim BanCorp by 16.2% during the 2nd quarter. State Street Corp now owns 107,072 shares of the financial services provider’s stock valued at $3,255,000 after acquiring an additional 14,921 shares during the period. Dimensional Fund Advisors LP raised its holdings in Northrim BanCorp by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 522,570 shares of the financial services provider’s stock valued at $15,886,000 after acquiring an additional 27,018 shares during the period. FMR LLC raised its holdings in Northrim BanCorp by 10.2% during the 2nd quarter. FMR LLC now owns 172,608 shares of the financial services provider’s stock valued at $5,247,000 after acquiring an additional 15,939 shares during the period. Vanguard Group Inc. raised its holdings in Northrim BanCorp by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 240,905 shares of the financial services provider’s stock valued at $7,323,000 after acquiring an additional 1,773 shares during the period. Finally, Northern Trust Corp raised its holdings in Northrim BanCorp by 3.9% during the 2nd quarter. Northern Trust Corp now owns 83,498 shares of the financial services provider’s stock valued at $2,539,000 after acquiring an additional 3,128 shares during the period. 71.15% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine upgraded 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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