Northrim BanCorp Inc (NRIM) Director David W. Karp Buys 650 Shares of Stock
Northrim BanCorp Inc (NASDAQ:NRIM) Director David W. Karp purchased 650 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was acquired at an average price of $28.20 per share, for a total transaction of $18,330.00. Following the purchase, the director now owns 1,716 shares in the company, valued at approximately $48,391.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Northrim BanCorp Inc (NRIM) traded up 1.36% during trading on Thursday, hitting $29.85. The stock had a trading volume of 24,945 shares. The company has a market cap of $206.26 million, a PE ratio of 14.85 and a beta of 0.59. Northrim BanCorp Inc has a 1-year low of $24.35 and a 1-year high of $33.00. The firm’s 50 day moving average is $28.79 and its 200 day moving average is $29.80.
Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Monday, July 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. The firm had revenue of $23.96 million during the quarter, compared to analyst estimates of $24.70 million. Equities research analysts anticipate that Northrim BanCorp Inc will post $2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.95%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, September 6th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 41.79%.
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Several institutional investors have recently added to or reduced their stakes in NRIM. State Street Corp raised its position in Northrim BanCorp by 21.4% in the fourth quarter. State Street Corp now owns 96,602 shares of the financial services provider’s stock valued at $3,049,000 after buying an additional 16,996 shares during the last quarter. Teachers Advisors LLC raised its position 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 during the last quarter. Bank of New York Mellon Corp raised its position in Northrim BanCorp by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 40,405 shares of the financial services provider’s stock valued at $1,215,000 after buying an additional 2,340 shares during the last quarter. Ameriprise Financial Inc. raised its position in 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 during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in Northrim BanCorp by 18.8% in the first quarter. Pacific Ridge Capital Partners LLC now owns 80,580 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 12,772 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Separately, ValuEngine upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a research note 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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