Segall Bryant & Hamill LLC Acquires New Stake in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Segall Bryant & Hamill LLC bought a new position in Northrim BanCorp, Inc. (NASDAQ:NRIM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,087 shares of the financial services provider’s stock, valued at approximately $2,111,000. Segall Bryant & Hamill LLC owned 0.49% of Northrim BanCorp as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NRIM. Vanguard Group Inc. grew its holdings in Northrim BanCorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 301,117 shares of the financial services provider’s stock worth $23,469,000 after acquiring an additional 2,802 shares in the last quarter. American Century Companies Inc. grew its stake 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 buying an additional 17,240 shares during the period. Quantbot Technologies LP acquired a new stake in Northrim BanCorp during the fourth quarter worth $112,000. Semanteon Capital Management LP purchased a new stake in Northrim BanCorp in the 4th quarter valued at about $201,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Northrim BanCorp by 47.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,023 shares of the financial services provider’s stock worth $1,327,000 after acquiring an additional 5,455 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Northrim BanCorp Stock Down 0.6 %

Northrim BanCorp stock opened at $74.97 on Friday. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average of $80.31 and a two-hundred day moving average of $77.03. The stock has a market capitalization of $413.91 million, a price-to-earnings ratio of 11.32 and a beta of 0.82.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 EPS 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%. As a group, research analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a $0.64 dividend. The ex-dividend date was Thursday, March 6th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.41%. Northrim BanCorp’s dividend payout ratio (DPR) is currently 38.67%.

Insider Buying and Selling at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of the firm’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 transaction, the chief executive officer now owns 23,759 shares in the company, valued at approximately $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by company insiders.

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.