Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,703 shares of the financial services provider’s stock after acquiring an additional 169 shares during the quarter. Rhumbline Advisers owned about 0.12% of Northrim BanCorp worth $386,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NRIM. Bank of New York Mellon Corp boosted its position in Northrim BanCorp by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock valued at $2,725,000 after buying an additional 1,149 shares during the last quarter. Huber Capital Management LLC boosted its position in Northrim BanCorp by 0.4% in the first quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after buying an additional 200 shares during the last quarter. Vanguard Group Inc. boosted its position in Northrim BanCorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock valued at $14,789,000 after buying an additional 1,795 shares during the last quarter. Empowered Funds LLC boosted its position in Northrim BanCorp by 8.1% in the first quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock valued at $934,000 after buying an additional 1,390 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Northrim BanCorp by 48.6% in the first quarter. BNP Paribas Financial Markets now owns 9,129 shares of the financial services provider’s stock valued at $461,000 after buying an additional 2,986 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Marushack acquired 493 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $60.22 per share, for a total transaction of $29,688.46. Following the transaction, the director now owns 2,768 shares in the company, valued at approximately $166,688.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $69.91 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. Northrim BanCorp, Inc. has a 52 week low of $38.25 and a 52 week high of $74.34. The business’s 50 day moving average price is $66.80 and its 200 day moving average price is $57.40. The firm has a market cap of $384.51 million, a P/E ratio of 13.63 and a beta of 0.71.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.31 by $0.31. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. The business had revenue of $46.49 million for the quarter, compared to analyst estimates of $35.00 million. On average, sell-side analysts expect that Northrim BanCorp, Inc. will post 5.83 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.61. Northrim BanCorp’s dividend payout ratio is currently 48.34%.

Northrim BanCorp Company 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.