1,432 Shares in Northrim BanCorp, Inc. (NASDAQ:NRIM) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,432 shares of the financial services provider’s stock, valued at approximately $112,000.

Other large investors also recently made changes to their positions in the company. Semanteon Capital Management LP acquired a new position in Northrim BanCorp in the fourth quarter valued at $201,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Northrim BanCorp by 47.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,023 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 5,455 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Northrim BanCorp during the 4th quarter worth about $1,794,000. Bank of New York Mellon Corp lifted its holdings in shares of Northrim BanCorp by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock worth $3,840,000 after acquiring an additional 7,009 shares during the period. Finally, Sunpointe LLC acquired a new stake in shares of Northrim BanCorp in the fourth quarter worth approximately $339,000. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM opened at $73.22 on Tuesday. The business has a 50-day moving average of $80.11 and a two-hundred day moving average of $77.27. The firm has a market capitalization of $404.25 million, a PE ratio of 11.06 and a beta of 0.82. 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 12 month low of $43.92 and a 12 month high of $91.72.

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, topping analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. As a group, research analysts forecast that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.50%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 6th. Northrim BanCorp’s dividend payout ratio is 38.67%.

Insider Buying and Selling

In other news, CEO Michael G. Huston sold 453 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $89.18, for a total value of $40,398.54. Following the completion of the sale, the chief executive officer now owns 23,759 shares of the company’s stock, valued at $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.