JPMorgan Chase & Co. Has $404,000 Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

JPMorgan Chase & Co. grew its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 150.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,679 shares of the financial services provider’s stock after buying an additional 3,411 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of Northrim BanCorp worth $404,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its position in 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Northrim BanCorp in the 3rd quarter valued at approximately $142,000. Fulton Bank N.A. acquired a new position in shares of Northrim BanCorp in the 3rd quarter worth approximately $214,000. Ritholtz Wealth Management bought a new position in shares of Northrim BanCorp during the 3rd quarter worth approximately $226,000. Finally, Sei Investments Co. boosted its stake in Northrim BanCorp by 15.0% in the 2nd 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 in the last quarter. 65.99% of the stock is owned by institutional investors.

Insider Activity

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the 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. This represents a 68.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Northrim BanCorp Price Performance

NASDAQ:NRIM opened at $82.81 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market cap of $455.46 million, a PE ratio of 14.13 and a beta of 0.82. Northrim BanCorp, Inc. has a 12 month low of $43.92 and a 12 month high of $91.72. The company’s 50-day moving average price is $80.93 and its two-hundred day moving average price is $72.97.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 17.79% and a return on equity of 13.31%. On average, equities analysts anticipate that Northrim BanCorp, Inc. will post 6.38 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s dividend payout ratio is presently 42.32%.

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.