Royce & Associates LP Sells 8,200 Shares of Northrim BanCorp Inc (NRIM)
Royce & Associates LP reduced its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,226 shares of the financial services provider’s stock after selling 8,200 shares during the period. Royce & Associates LP owned approximately 8.53% of Northrim BanCorp worth $17,912,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of NRIM. American International Group Inc. raised its stake in shares of Northrim BanCorp by 6.9% in the first quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock worth $124,000 after buying an additional 267 shares in the last quarter. Bank of America Corp DE raised its stake in Northrim BanCorp by 6.1% in the first quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock valued at $185,000 after buying an additional 353 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Northrim BanCorp by 2.0% in the second quarter. Russell Investments Group Ltd. now owns 25,466 shares of the financial services provider’s stock valued at $774,000 after buying an additional 497 shares in the last quarter. Teachers Advisors LLC raised its stake in Northrim BanCorp by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 11,713 shares of the financial services provider’s stock valued at $370,000 after buying an additional 887 shares in the last quarter. Finally, AXA raised its stake in Northrim BanCorp by 5.9% in the first quarter. AXA now owns 17,900 shares of the financial services provider’s stock valued at $538,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Shares of Northrim BanCorp Inc (NASDAQ NRIM) opened at 29.45 on Wednesday. The stock has a market cap of $203.50 million, a price-to-earnings ratio of 14.65 and a beta of 0.59. The firm has a 50-day moving average price of $28.79 and a 200 day moving average price of $29.80. Northrim BanCorp Inc has a 52-week low of $24.35 and a 52-week high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. The business had revenue of $23.96 million during the quarter, compared to analyst estimates of $24.70 million. Analysts expect that Northrim BanCorp Inc will post $2.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.99%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, September 6th. Northrim BanCorp’s dividend payout ratio is 41.79%.
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Separately, ValuEngine upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.
Northrim BanCorp Company Profile
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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