Northrim BanCorp, Inc. (NASDAQ:NRIM) CFO Jed W. Ballard Purchases 500 Shares

Northrim BanCorp, Inc. (NASDAQ:NRIM – Get Rating) CFO Jed W. Ballard acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $47.50 per share, with a total value of $23,750.00. Following the completion of the purchase, the chief financial officer now directly owns 3,749 shares in the company, valued at $178,077.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Northrim BanCorp Trading Down 5.4 %

Shares of NASDAQ NRIM opened at $46.34 on Tuesday. The business has a fifty day moving average price of $53.12 and a 200 day moving average price of $49.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.74. Northrim BanCorp, Inc. has a 1-year low of $38.42 and a 1-year high of $56.77. The stock has a market capitalization of $263.67 million, a P/E ratio of 8.79 and a beta of 0.66.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Thursday, March 9th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, March 8th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 5.18%. Northrim BanCorp’s dividend payout ratio (DPR) is 45.54%.

Institutional Investors Weigh In On Northrim BanCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. raised its stake in Northrim BanCorp by 10.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,956 shares of the financial services provider’s stock valued at $106,000 after buying an additional 189 shares during the last quarter. Lazard Asset Management LLC raised its stake in Northrim BanCorp by 8.0% in the third quarter. Lazard Asset Management LLC now owns 2,630 shares of the financial services provider’s stock valued at $109,000 after buying an additional 195 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Northrim BanCorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 57,038 shares of the financial services provider’s stock worth $3,112,000 after purchasing an additional 307 shares during the last quarter. Bailard Inc. raised its stake in shares of Northrim BanCorp by 4.8% in the third quarter. Bailard Inc. now owns 10,847 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 500 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new position in shares of Northrim BanCorp in the fourth quarter worth about $30,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Monday.

About Northrim BanCorp

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Northrim Bancorp, Inc operates as a bank holding company. The firm provides personal, business and commercial banking products and services. It operates through the following segments: Community Banking and Home Mortgage Lending. The Community Banking segment offers loan and deposit products to business and consumer customers in the company’s market areas.