American Century Companies Inc. Purchases 17,240 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

American Century Companies Inc. lifted its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,173 shares of the financial services provider’s stock after acquiring an additional 17,240 shares during the period. American Century Companies Inc. owned approximately 2.22% of Northrim BanCorp worth $9,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. DecisionPoint Financial LLC bought a new stake in Northrim BanCorp during the fourth quarter worth $39,000. Quantbot Technologies LP acquired a new position in shares of Northrim BanCorp during the 4th quarter worth $112,000. FMR LLC lifted its position in shares of Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after buying an additional 201 shares during the last quarter. SG Americas Securities LLC boosted its stake in Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after buying an additional 513 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new position in Northrim BanCorp in the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $74.60 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 company has a market capitalization of $411.87 million, a PE ratio of 11.27 and a beta of 0.82. The firm has a fifty day simple moving average of $79.91 and a 200 day simple moving average of $77.29. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. On average, sell-side analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 6th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s payout ratio is presently 38.67%.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated 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

In related news, CEO Michael G. Huston sold 453 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $89.18, for a total value of $40,398.54. Following the transaction, the chief executive officer now directly owns 23,759 shares of the company’s stock, valued at approximately $2,118,827.62. The trade was a 1.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

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.