Renaissance Technologies LLC Has $503,000 Stock Position in Northrim BanCorp Inc $NRIM

Renaissance Technologies LLC reduced its stake in Northrim BanCorp Inc (NASDAQ:NRIM) by 84.2% during the 1st quarter, Holdings Channel reports. The fund owned 22,000 shares of the financial services provider’s stock after selling 117,600 shares during the period. Renaissance Technologies LLC’s holdings in Northrim BanCorp were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of Northrim BanCorp during the fourth quarter worth approximately $27,000. Quarry LP increased its stake in shares of Northrim BanCorp by 47.7% during the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 412 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Northrim BanCorp by 298.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,174 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Northrim BanCorp by 227.2% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock worth $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 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 993 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM opened at $26.89 on Tuesday. Northrim BanCorp Inc has a 12-month low of $19.60 and a 12-month high of $30.82. The company’s 50 day moving average price is $26.77 and its two-hundred day moving average price is $25.07. The firm has a market cap of $598.30 million, a PE ratio of 8.85 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

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, 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 research analysts predict that Northrim BanCorp Inc will post 2.57 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NRIM shares. Keefe, Bruyette & Woods started coverage on Northrim BanCorp in a research note on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently 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.