Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,036 shares of the financial services provider’s stock after selling 1,900 shares during the period. Los Angeles Capital Management LLC’s holdings in Northrim BanCorp were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NRIM. Bank of New York Mellon Corp raised its position in Northrim BanCorp by 16.6% during the fourth quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock valued at $3,840,000 after acquiring an additional 7,009 shares in the last quarter. Sunpointe LLC purchased a new position in shares of Northrim BanCorp during the 4th quarter valued at approximately $339,000. DecisionPoint Financial LLC purchased a new position in shares of Northrim BanCorp during the 4th quarter valued at approximately $39,000. SG Americas Securities LLC lifted its stake in shares of Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 513 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider’s stock worth $479,000 after buying an additional 2,980 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $89.18, for a total value of $40,398.54. Following the sale, the chief executive officer now directly owns 23,759 shares in the company, valued at approximately $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Northrim BanCorp Stock Performance

Shares of NRIM stock opened at $82.30 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $91.72. The business’s 50 day moving average is $81.02 and its two-hundred day moving average is $76.07. The company has a market capitalization of $452.81 million, a P/E ratio of 12.43 and a beta of 0.83.

Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. Analysts expect that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be given a $0.64 dividend. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.56 annualized dividend and a dividend yield of 3.11%. 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.