Northrim BanCorp Inc (NRIM) Position Held by John W. Rosenthal Capital Management Inc.
John W. Rosenthal Capital Management Inc. maintained its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the financial services provider’s stock at the end of the second quarter. John W. Rosenthal Capital Management Inc. owned approximately 0.72% of Northrim BanCorp worth $1,520,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NRIM. FMR LLC raised its stake in shares of Northrim BanCorp by 467.6% in the first quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock valued at $4,708,000 after buying an additional 129,069 shares in the last quarter. Brandes Investment Partners LP bought a new stake in shares of Northrim BanCorp during the first quarter valued at approximately $1,280,000. Ameriprise Financial Inc. raised its stake in shares of Northrim BanCorp by 16.5% in the first quarter. Ameriprise Financial Inc. now owns 299,968 shares of the financial services provider’s stock valued at $9,014,000 after buying an additional 42,405 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of Northrim BanCorp during the second quarter valued at approximately $861,000. Finally, Vanguard Group Inc. raised its stake in shares of Northrim BanCorp by 11.1% in the first quarter. Vanguard Group Inc. now owns 239,132 shares of the financial services provider’s stock valued at $7,186,000 after buying an additional 23,806 shares in the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.
Northrim BanCorp Inc (NRIM) traded up 0.89% during mid-day trading on Monday, hitting $28.30. 1,933 shares of the stock traded hands. The company’s 50 day moving average price is $28.79 and its 200-day moving average price is $29.80. Northrim BanCorp Inc has a 1-year low of $24.35 and a 1-year high of $33.00. The stock has a market cap of $195.55 million, a price-to-earnings ratio of 14.08 and a beta of 0.59.
Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $23.96 million for the quarter, compared to analyst estimates of $24.70 million. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. Analysts predict that Northrim BanCorp Inc will post $2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, September 7th will be given a $0.22 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.88 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.21. Northrim BanCorp’s dividend payout ratio is currently 41.79%.
Separately, ValuEngine raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.
About Northrim BanCorp
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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