Private Capital Management LLC lowered its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 5.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 84,582 shares of the financial services provider’s stock after selling 4,594 shares during the quarter. Private Capital Management LLC’s holdings in Northrim BanCorp were worth $2,911,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NRIM. BNP Paribas Arbitrage SA raised its holdings in Northrim BanCorp by 507.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,421 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,187 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Northrim BanCorp by 372.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,482 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 1,957 shares in the last quarter. SG Americas Securities LLC bought a new position in Northrim BanCorp in the 1st quarter worth $129,000. Meeder Asset Management Inc. raised its holdings in Northrim BanCorp by 18.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,858 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 924 shares in the last quarter. Finally, SEI Investments Co raised its holdings in Northrim BanCorp by 94.1% in the 1st quarter. SEI Investments Co now owns 6,184 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 2,998 shares in the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.
NASDAQ NRIM traded up $0.19 during trading on Friday, hitting $34.48. The company had a trading volume of 190 shares, compared to its average volume of 11,615. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Northrim BanCorp, Inc. has a one year low of $29.66 and a one year high of $45.40. The firm has a market capitalization of $234.89 million, a PE ratio of 11.89 and a beta of 0.73.
Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). Northrim BanCorp had a return on equity of 9.91% and a net margin of 20.56%. The company had revenue of $23.30 million during the quarter, compared to the consensus estimate of $23.10 million. On average, sell-side analysts predict that Northrim BanCorp, Inc. will post 2.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, June 6th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.20 annualized dividend and a yield of 3.48%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 41.96%.
Several research analysts have commented on NRIM shares. Zacks Investment Research upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. BidaskClub lowered shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Friday, March 1st.
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About Northrim BanCorp
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.
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