Villanova Investment Management Co LLC Cuts Stock Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Villanova Investment Management Co LLC trimmed its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,605 shares of the financial services provider’s stock after selling 251 shares during the period. Villanova Investment Management Co LLC owned 0.28% of Northrim BanCorp worth $1,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in Northrim BanCorp in the 4th quarter valued at about $2,111,000. Raymond James Financial Inc. acquired a new position in shares of Northrim BanCorp during the fourth quarter valued at approximately $1,794,000. American Century Companies Inc. lifted its position in shares of Northrim BanCorp by 16.4% in the fourth 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 in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Northrim BanCorp by 202.7% in the fourth quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 11,514 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Northrim BanCorp by 8.0% in the third quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after acquiring an additional 8,012 shares during the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northrim BanCorp

In other news, CEO Michael G. Huston sold 453 shares of the 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 completion of the sale, the chief executive officer now owns 23,759 shares of the company’s stock, valued at $2,118,827.62. This represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Hovde Group began coverage on Northrim BanCorp in a report on Friday, December 20th. They issued an “outperform” rating and a $96.50 price objective on the stock.

Northrim BanCorp Stock Down 0.0 %

Shares of NASDAQ NRIM opened at $73.22 on Tuesday. 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 company has a 50-day moving average of $80.11 and a 200 day moving average of $77.27. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $91.72. The stock has a market cap of $404.25 million, a PE ratio of 11.06 and a beta of 0.82.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results 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, sell-side analysts predict that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.64 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.56 annualized dividend and a dividend yield of 3.50%. Northrim BanCorp’s payout ratio is presently 38.67%.

Northrim BanCorp 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.