Inspire Investing LLC Has $1.68 Million Stock Position in Northrim BanCorp Inc $NRIM

Inspire Investing LLC lifted its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 59.3% during the first quarter, Holdings Channel.com reports. The firm owned 73,209 shares of the financial services provider’s stock after acquiring an additional 27,243 shares during the period. Inspire Investing LLC’s holdings in Northrim BanCorp were worth $1,675,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Northrim BanCorp by 21.5% in the 1st quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider’s stock valued at $2,892,000 after buying an additional 6,990 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Northrim BanCorp in the first quarter valued at approximately $210,000. AQR Capital Management LLC grew its stake in Northrim BanCorp by 171.3% in the first quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 8,431 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Northrim BanCorp by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 156 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Northrim BanCorp by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider’s stock valued at $2,085,000 after acquiring an additional 6,599 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $27.74 on Wednesday. The stock has a market cap of $617.22 million, a price-to-earnings ratio of 9.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. Northrim BanCorp Inc has a fifty-two week low of $19.60 and a fifty-two week high of $30.82. The firm’s 50-day simple moving average is $24.93 and its 200 day simple moving average is $25.14.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. The firm had revenue of $49.46 million during the quarter, compared to the consensus estimate of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. As a group, research analysts anticipate that Northrim BanCorp Inc will post 2.6 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.64 annualized dividend and a yield of 2.3%. Northrim BanCorp’s dividend payout ratio is 22.22%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Company 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.