Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Purchases $33,136.00 in Stock

Northrim BanCorp, Inc. (NASDAQ:NRIMGet Rating) Director David J. Mccambridge acquired 800 shares of Northrim BanCorp stock in a transaction on Thursday, June 2nd. The shares were bought at an average cost of $41.42 per share, with a total value of $33,136.00. Following the completion of the transaction, the director now owns 8,878 shares of the company’s stock, valued at $367,726.76. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Northrim BanCorp stock traded up $1.46 during trading on Thursday, hitting $42.53. 458 shares of the company were exchanged, compared to its average volume of 23,476. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $41.60 and its 200 day moving average is $43.17. Northrim BanCorp, Inc. has a 52 week low of $38.42 and a 52 week high of $47.34. The company has a market capitalization of $247.52 million, a P/E ratio of 7.81 and a beta of 0.70.

Northrim BanCorp (NASDAQ:NRIMGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $0.98 by $0.22. Northrim BanCorp had a return on equity of 13.81% and a net margin of 24.81%. The business had revenue of $30.13 million for the quarter, compared to the consensus estimate of $29.50 million. Equities analysts expect that Northrim BanCorp, Inc. will post 5.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Thursday, June 9th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $1.64 dividend on an annualized basis and a yield of 3.86%. Northrim BanCorp’s dividend payout ratio is currently 31.18%.

A number of hedge funds have recently added to or reduced their stakes in NRIM. BlackRock Inc. lifted its stake in Northrim BanCorp by 4.2% during the first quarter. BlackRock Inc. now owns 779,683 shares of the financial services provider’s stock worth $33,971,000 after purchasing an additional 31,470 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Northrim BanCorp by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 288,804 shares of the financial services provider’s stock worth $12,583,000 after acquiring an additional 39,047 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Northrim BanCorp by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 248,186 shares of the financial services provider’s stock worth $10,550,000 after acquiring an additional 4,645 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Northrim BanCorp by 2.3% during the first quarter. Acadian Asset Management LLC now owns 110,956 shares of the financial services provider’s stock worth $4,832,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Northrim BanCorp by 22.1% during the first quarter. Renaissance Technologies LLC now owns 71,800 shares of the financial services provider’s stock valued at $3,128,000 after buying an additional 13,000 shares during the last quarter. 69.50% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday, May 26th. Janney Montgomery Scott upgraded shares of Northrim BanCorp from a “neutral” rating to a “buy” rating in a research report on Friday, February 25th. Finally, StockNews.com assumed coverage on Northrim BanCorp in a research report on Thursday, March 31st. They set a “buy” rating for the company.

Northrim BanCorp Company Profile (Get Rating)

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 in 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.

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