State Street Corp Acquires 8,012 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

State Street Corp grew its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,568 shares of the financial services provider’s stock after acquiring an additional 8,012 shares during the period. State Street Corp owned 1.96% of Northrim BanCorp worth $7,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Northrim BanCorp by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 84,730 shares of the financial services provider’s stock worth $4,884,000 after purchasing an additional 5,794 shares in the last quarter. De Lisle Partners LLP increased its position in Northrim BanCorp by 11.6% in the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock worth $5,476,000 after buying an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Northrim BanCorp by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock worth $2,725,000 after buying an additional 1,149 shares during the period. Elizabeth Park Capital Advisors Ltd. lifted its position in shares of Northrim BanCorp by 27.3% during the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider’s stock valued at $2,670,000 after buying an additional 9,919 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Northrim BanCorp by 27.2% during the 2nd quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 3.4 %

NRIM opened at $77.06 on Friday. Northrim BanCorp, Inc. has a fifty-two week low of $43.92 and a fifty-two week high of $91.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $423.98 million, a price-to-earnings ratio of 13.15 and a beta of 0.81. The firm’s fifty day moving average is $78.60 and its 200 day moving average is $69.24.

Northrim BanCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 19th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Thursday, December 19th. Northrim BanCorp’s dividend payout ratio is currently 42.32%.

Analyst Ratings Changes

Separately, Hovde Group began coverage on shares of Northrim BanCorp in a report on Friday, December 20th. They issued an “outperform” rating and a $96.50 target price for the company.

Insider Activity at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the sale, the director now directly owns 1,172 shares of the company’s stock, valued at $92,588. This trade represents a 68.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

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. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.