Ameriprise Financial Inc. cut its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,501 shares of the financial services provider’s stock after selling 26,601 shares during the quarter. Ameriprise Financial Inc. owned about 4.07% of Northrim BanCorp worth $9,733,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Northrim BanCorp by 11.1% in the first quarter. Vanguard Group Inc. now owns 239,132 shares of the financial services provider’s stock worth $7,186,000 after purchasing an additional 23,806 shares during the period. Geode Capital Management LLC increased its stake in Northrim BanCorp by 6.9% in the first quarter. Geode Capital Management LLC now owns 55,270 shares of the financial services provider’s stock worth $1,660,000 after purchasing an additional 3,552 shares during the period. Bank of America Corp DE increased its stake in Northrim BanCorp by 6.1% in the first quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 353 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Northrim BanCorp in the first quarter worth $306,000. Finally, Russell Investments Group Ltd. increased its stake in Northrim BanCorp by 2.0% in the second quarter. Russell Investments Group Ltd. now owns 25,466 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 497 shares during the period. Institutional investors own 72.13% of the company’s stock.
Shares of Northrim BanCorp, Inc. (NRIM) traded down $0.45 during trading on Friday, hitting $35.10. The stock had a trading volume of 9,181 shares, compared to its average volume of 12,018. Northrim BanCorp, Inc. has a 1 year low of $26.31 and a 1 year high of $38.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $243.64, a price-to-earnings ratio of 14.87 and a beta of 0.75.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, December 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $0.88 annualized dividend and a yield of 2.51%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 37.29%.
A number of analysts have weighed in on NRIM shares. ValuEngine upgraded Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Northrim BanCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th.
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About Northrim BanCorp
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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