Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,023 shares of the financial services provider’s stock after purchasing an additional 5,455 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.31% of Northrim BanCorp worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NRIM. Raymond James Financial Inc. acquired a new stake in shares of Northrim BanCorp in the 4th quarter valued at approximately $1,794,000. Bank of New York Mellon Corp raised its position in Northrim BanCorp by 16.6% in the fourth quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock worth $3,840,000 after acquiring an additional 7,009 shares in the last quarter. Sunpointe LLC acquired a new stake in Northrim BanCorp in the fourth quarter valued at $339,000. DecisionPoint Financial LLC purchased a new stake in shares of Northrim BanCorp during the 4th quarter worth $39,000. Finally, SG Americas Securities LLC grew its stake in shares of Northrim BanCorp by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

NRIM opened at $74.10 on Thursday. Northrim BanCorp, Inc. has a 1-year low of $43.92 and a 1-year high of $91.72. The stock has a market cap of $409.11 million, a P/E ratio of 11.19 and a beta of 0.82. The stock’s 50 day simple moving average is $80.36 and its 200 day simple moving average is $76.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. As a group, equities analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 3.45%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s payout ratio is presently 38.67%.

Analyst Upgrades and Downgrades

Separately, Hovde Group assumed coverage on shares of Northrim BanCorp in a research note on Friday, December 20th. They issued an “outperform” rating and a $96.50 price objective for the company.

Insider Buying and Selling at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the transaction, the chief executive officer now directly owns 23,759 shares in the company, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.

Northrim BanCorp Company Profile

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.