Linda Thomas Buys 1,200 Shares of Northrim BanCorp (NASDAQ:NRIM) Stock

Northrim BanCorp Inc (NASDAQ:NRIM) Director Linda Thomas acquired 1,200 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $26.20 per share, with a total value of $31,440.00. Following the acquisition, the director owned 6,688 shares in the company, valued at $175,225.60. The trade was a 21.87% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Northrim BanCorp Stock Down 1.6%

NRIM traded down $0.42 during trading on Tuesday, reaching $26.03. 188,772 shares of the stock were exchanged, compared to its average volume of 159,443. The stock has a market cap of $579.17 million, a P/E ratio of 8.56 and a beta of 0.87. Northrim BanCorp Inc has a twelve month low of $19.60 and a twelve month high of $30.82. The stock’s 50 day moving average price is $26.75 and its two-hundred day moving average price is $25.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.80 million. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.33%. Equities analysts expect that Northrim BanCorp Inc will post 2.68 EPS for the current year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, September 10th. Northrim BanCorp’s dividend payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

NRIM has been the topic of a number of research analyst reports. Hovde Group began coverage on Northrim BanCorp in a research note on Tuesday. They issued an “outperform” rating and a $30.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Northrim BanCorp in a report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Institutional Investors Weigh In On Northrim BanCorp

A number of institutional investors have recently modified their holdings of NRIM. California State Teachers Retirement System increased its position in Northrim BanCorp by 618.9% during the second quarter. California State Teachers Retirement System now owns 8,461 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 7,284 shares during the period. Ancora Advisors LLC lifted its stake in Northrim BanCorp by 74.5% during the second quarter. Ancora Advisors LLC now owns 126,214 shares of the financial services provider’s stock worth $3,501,000 after purchasing an additional 53,894 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in Northrim BanCorp in the second quarter valued at about $350,000. Empowered Funds LLC acquired a new position in Northrim BanCorp during the second quarter worth about $2,517,000. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of Northrim BanCorp in the second quarter worth about $9,514,000. Institutional investors own 65.99% of the company’s stock.

About Northrim BanCorp

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.