David W. Karp Buys 550 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director David W. Karp purchased 550 shares of Northrim BanCorp stock in a transaction dated Wednesday, June 9th. The shares were bought at an average price of $44.68 per share, for a total transaction of $24,574.00. Following the acquisition, the director now owns 5,186 shares in the company, valued at $231,710.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ NRIM opened at $43.90 on Friday. The stock has a market cap of $272.49 million, a price-to-earnings ratio of 6.37 and a beta of 0.80. Northrim BanCorp, Inc. has a 52 week low of $20.90 and a 52 week high of $48.19. The business’s fifty day moving average is $43.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.91.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Sunday, April 25th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.54. The firm had revenue of $35.39 million for the quarter, compared to analyst estimates of $34.50 million. Northrim BanCorp had a net margin of 28.83% and a return on equity of 20.14%. As a group, equities research analysts expect that Northrim BanCorp, Inc. will post 5.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 18th. Investors of record on Thursday, June 10th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, June 9th. This represents a $1.48 annualized dividend and a yield of 3.37%. Northrim BanCorp’s dividend payout ratio (DPR) is currently 28.96%.

Separately, Zacks Investment Research upgraded Northrim BanCorp from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, May 14th.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Northrim BanCorp by 22.3% in the 4th quarter. BlackRock Inc. now owns 771,808 shares of the financial services provider’s stock valued at $26,202,000 after buying an additional 140,903 shares during the period. LSV Asset Management raised its holdings in Northrim BanCorp by 21.7% in the 1st quarter. LSV Asset Management now owns 147,842 shares of the financial services provider’s stock valued at $6,284,000 after buying an additional 26,375 shares during the period. HighTower Advisors LLC purchased a new stake in Northrim BanCorp in the 4th quarter valued at about $415,000. Bailard Inc. raised its holdings in Northrim BanCorp by 4.6% in the 4th quarter. Bailard Inc. now owns 15,917 shares of the financial services provider’s stock valued at $540,000 after buying an additional 700 shares during the period. Finally, Barclays PLC increased its stake in Northrim BanCorp by 4.9% during the fourth quarter. Barclays PLC now owns 30,684 shares of the financial services provider’s stock worth $1,042,000 after purchasing an additional 1,430 shares during the period. Hedge funds and other institutional investors own 67.34% 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 in 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 accounts, money market deposit accounts, and certificates of deposit.

Read More: What are gap-down stocks?

Receive News & Ratings for Northrim BanCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp and related companies with MarketBeat.com's FREE daily email newsletter.