Kennedy Capital Management Inc. decreased its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,252 shares of the financial services provider’s stock after selling 1,690 shares during the period. Kennedy Capital Management Inc. owned about 2.14% of Northrim BanCorp worth $4,984,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Northrim BanCorp during the 4th quarter worth $114,000. Nationwide Fund Advisors raised its position in shares of Northrim BanCorp by 37.7% during the 2nd quarter. Nationwide Fund Advisors now owns 6,214 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,700 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Northrim BanCorp during the 3rd quarter worth about $206,000. New York State Common Retirement Fund raised its position in shares of Northrim BanCorp by 119.1% during the 2nd quarter. New York State Common Retirement Fund now owns 8,092 shares of the financial services provider’s stock worth $246,000 after buying an additional 4,399 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Northrim BanCorp by 50.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,450 shares of the financial services provider’s stock worth $366,000 after buying an additional 3,494 shares in the last quarter. 70.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on NRIM. Zacks Investment Research upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a report on Saturday, December 30th. ValuEngine raised shares of Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st.
NRIM stock traded up $0.45 during trading hours on Friday, reaching $36.05. 34,472 shares of the company traded hands, compared to its average volume of 13,620. Northrim BanCorp, Inc. has a 1 year low of $26.31 and a 1 year high of $38.15. The firm has a market cap of $247.74, a PE ratio of 19.18 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09.
Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.05). Northrim BanCorp had a return on equity of 8.39% and a net margin of 13.09%. The firm had revenue of $22.64 million during the quarter, compared to the consensus estimate of $22.30 million. research analysts forecast that Northrim BanCorp, Inc. will post 2.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Thursday, March 8th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, March 7th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.22. Northrim BanCorp’s dividend payout ratio (DPR) is 51.06%.
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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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