Ritholtz Wealth Management Purchases 2,980 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Ritholtz Wealth Management boosted its position in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 94.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,151 shares of the financial services provider’s stock after acquiring an additional 2,980 shares during the period. Ritholtz Wealth Management owned 0.11% of Northrim BanCorp worth $479,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in shares of Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Northrim BanCorp in the 3rd quarter worth approximately $142,000. Fulton Bank N.A. bought a new stake in shares of Northrim BanCorp in the 3rd quarter worth approximately $214,000. Sei Investments Co. increased its stake in shares of Northrim BanCorp by 15.0% during the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after buying an additional 600 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Northrim BanCorp by 150.4% during the third quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider’s stock valued at $404,000 after buying an additional 3,411 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $80.15 on Wednesday. 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, Inc. has a 1 year low of $43.92 and a 1 year high of $91.72. The company’s 50-day moving average is $81.10 and its 200 day moving average is $72.11. The stock has a market capitalization of $440.83 million, a P/E ratio of 13.68 and a beta of 0.82.

Northrim BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 19th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, December 19th. Northrim BanCorp’s dividend payout ratio is currently 42.32%.

Insider Activity

In related news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the sale, the director now owns 1,172 shares of the company’s stock, valued at $92,588. The trade was a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.