Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Acquires $15,126.00 in Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano purchased 200 shares of the company’s stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $75.63 per share, with a total value of $15,126.00. Following the completion of the purchase, the director now directly owns 1,207 shares in the company, valued at $91,285.41. This trade represents a 19.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Northrim BanCorp Price Performance

NRIM stock traded down $0.92 during trading on Tuesday, hitting $74.64. 19,902 shares of the company’s stock traded hands, compared to its average volume of 27,387. The business has a fifty day simple moving average of $80.41 and a 200 day simple moving average of $77.06. 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 stock has a market capitalization of $412.09 million, a price-to-earnings ratio of 11.27 and a beta of 0.82. Northrim BanCorp, Inc. has a 52 week low of $43.92 and a 52 week high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a $0.64 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 6th. Northrim BanCorp’s payout ratio is presently 38.67%.

Institutional Trading of Northrim BanCorp

A number of hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new position in shares of Northrim BanCorp during the fourth quarter valued at approximately $2,111,000. Raymond James Financial Inc. bought a new stake in Northrim BanCorp during the 4th quarter valued at $1,794,000. American Century Companies Inc. increased its holdings in shares of Northrim BanCorp by 16.4% in the 4th quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider’s stock valued at $9,522,000 after acquiring an additional 17,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northrim BanCorp in the 3rd quarter worth $824,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Northrim BanCorp by 202.7% during the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 11,514 shares during the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.