Dimensional Fund Advisors LP Decreases Stock Position in Northrim BanCorp Inc $NRIM

Dimensional Fund Advisors LP cut its position in Northrim BanCorp Inc (NASDAQ:NRIM) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,608 shares of the financial services provider’s stock after selling 46,234 shares during the quarter. Dimensional Fund Advisors LP owned about 0.05% of Northrim BanCorp worth $27,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Northrim BanCorp during the 4th quarter worth $27,000. Quarry LP raised its stake in Northrim BanCorp by 47.7% in the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 412 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Northrim BanCorp by 298.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,174 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Northrim BanCorp by 227.2% during the third quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,261 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in Northrim BanCorp by 192.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 993 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Insiders Place Their Bets

In other Northrim BanCorp news, EVP Jason Alexander Criqui sold 13,488 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $26.44, for a total value of $356,622.72. Following the transaction, the executive vice president directly owned 12,653 shares in the company, valued at $334,545.32. This represents a 51.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Northrim BanCorp Stock Down 0.3%

Shares of NASDAQ:NRIM opened at $26.99 on Thursday. The firm has a fifty day moving average price of $26.40 and a two-hundred day moving average price of $25.10. The company has a market cap of $600.53 million, a price-to-earnings ratio of 8.88 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.91. Northrim BanCorp Inc has a one year low of $19.60 and a one year high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.33%. The firm had revenue of $53.79 million for the quarter, compared to analysts’ expectations of $51.80 million. Analysts anticipate that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NRIM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods began coverage on shares of Northrim BanCorp in a research report on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Northrim BanCorp currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Northrim BanCorp Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.