Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Bought by Zacks Investment Management

Zacks Investment Management grew its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,952 shares of the financial services provider’s stock after buying an additional 744 shares during the quarter. Zacks Investment Management owned 0.82% of Northrim BanCorp worth $3,504,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NRIM. FMR LLC raised its stake in shares of Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after buying an additional 201 shares in the last quarter. DecisionPoint Financial LLC acquired a new stake in shares of Northrim BanCorp in the fourth quarter valued at about $39,000. SG Americas Securities LLC boosted its holdings in Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after buying an additional 513 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Northrim BanCorp by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,354 shares of the financial services provider’s stock valued at $261,000 after buying an additional 679 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Northrim BanCorp by 5.7% during the 4th quarter. Barclays PLC now owns 21,876 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CEO Michael G. Huston sold 453 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the sale, the chief executive officer now directly owns 23,759 shares of the company’s stock, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Northrim BanCorp Stock Up 1.0 %

NRIM opened at $72.87 on Friday. The business’s fifty day simple moving average is $75.96 and its 200 day simple moving average is $77.16. Northrim BanCorp, Inc. has a 52 week low of $44.68 and a 52 week high of $91.72. The firm has a market cap of $402.32 million, a P/E ratio of 11.01 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

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 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, equities research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company 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. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 6th. Northrim BanCorp’s dividend payout ratio (DPR) is 38.67%.

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.