Semanteon Capital Management LP Invests $201,000 in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Semanteon Capital Management LP bought a new position in Northrim BanCorp, Inc. (NASDAQ:NRIM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,574 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors have also made changes to their positions in the company. DecisionPoint Financial LLC acquired a new stake in shares of Northrim BanCorp during the fourth quarter valued at approximately $39,000. FMR LLC raised its holdings in shares of Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 201 shares during the period. SG Americas Securities LLC raised its holdings in shares of Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 513 shares during the period. Sunpointe LLC acquired a new stake in shares of Northrim BanCorp during the fourth quarter valued at approximately $339,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Northrim BanCorp by 150.4% during the third quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 3,411 shares during the period. 65.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Stock Down 0.3 %

Northrim BanCorp stock opened at $73.52 on Friday. The firm has a market cap of $405.90 million, a PE ratio of 11.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The firm’s 50 day moving average price is $80.40 and its two-hundred day moving average price is $76.85. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data 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 net margin of 18.87% and a return on equity of 14.86%. On average, research analysts predict that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s dividend payout ratio is currently 38.67%.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on shares of Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 price target on the stock.

Insiders Place Their Bets

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

About Northrim BanCorp

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.