Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Bought by Barclays PLC

Barclays PLC raised its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 32.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,689 shares of the financial services provider’s stock after purchasing an additional 5,079 shares during the quarter. Barclays PLC owned about 0.38% of Northrim BanCorp worth $1,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ClariVest Asset Management LLC purchased a new stake in shares of Northrim BanCorp during the second quarter valued at $1,141,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Northrim BanCorp during the 3rd quarter worth about $824,000. Elizabeth Park Capital Advisors Ltd. lifted its position in 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 worth $2,670,000 after acquiring an additional 9,919 shares during the period. State Street Corp grew its stake in Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock valued at $7,661,000 after purchasing an additional 8,012 shares during the last quarter. Finally, De Lisle Partners LLP increased its holdings in shares of 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 valued at $5,476,000 after purchasing an additional 8,000 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 3.4 %

NRIM stock opened at $77.06 on Friday. The company has a market capitalization of $423.98 million, a P/E ratio of 13.15 and a beta of 0.81. Northrim BanCorp, Inc. has a 12 month low of $43.92 and a 12 month high of $91.72. The firm’s fifty day simple moving average is $78.72 and its 200-day simple moving average is $69.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81.

Northrim BanCorp Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

Northrim BanCorp Profile

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.