Northrim BanCorp Inc (NASDAQ:NRIM) Director Krystal Murphy Nelson bought 700 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average cost of $29.89 per share, with a total value of $20,923.00. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $56,791. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Northrim BanCorp Inc (NASDAQ NRIM) opened at 29.90 on Wednesday. The company has a market capitalization of $206.61 million, a PE ratio of 14.88 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 company’s 50-day moving average price is $28.59 and its 200-day moving average price is $29.81.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Monday, July 31st. The financial services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The business had revenue of $23.96 million during the quarter, compared to the consensus estimate of $24.70 million. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. On average, equities analysts expect that Northrim BanCorp Inc will post $2.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.88 annualized dividend and a yield of 2.94%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.21. Northrim BanCorp’s dividend payout ratio is 43.78%.

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A number of institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in 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 purchasing an additional 267 shares during the last quarter. Menta Capital LLC boosted its position in Northrim BanCorp by 2.5% in the second quarter. Menta Capital LLC now owns 12,086 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 300 shares during the last quarter. Bank of America Corp DE boosted its position 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 worth $185,000 after purchasing an additional 353 shares during the last quarter. Russell Investments Group Ltd. boosted its position 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 worth $774,000 after purchasing an additional 497 shares during the last quarter. Finally, Teachers Advisors LLC boosted 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 worth $370,000 after purchasing an additional 887 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

Separately, ValuEngine raised 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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