Northrim BanCorp Inc (NRIM) Director Larry S. Cash Buys 350 Shares
Northrim BanCorp Inc (NASDAQ:NRIM) Director Larry S. Cash purchased 350 shares of the stock in a transaction on Wednesday, September 13th. The shares were bought at an average price of $30.23 per share, for a total transaction of $10,580.50. Following the acquisition, the director now owns 3,776 shares of the company’s stock, valued at $114,148.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Northrim BanCorp Inc (NASDAQ:NRIM) traded up 1.82% during trading on Friday, reaching $30.85. The company’s stock had a trading volume of 67,369 shares. The company has a market cap of $213.17 million, a PE ratio of 15.35 and a beta of 0.59. The stock’s 50 day moving average price is $28.69 and its 200 day moving average price is $29.81. Northrim BanCorp Inc has a 52 week low of $24.35 and a 52 week high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $23.96 million for the quarter, compared to analysts’ expectations of $24.70 million. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. Equities research analysts predict that Northrim BanCorp Inc will post $2.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, September 7th were given a dividend of $0.22 per share. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.88 annualized dividend and a dividend yield of 2.85%. Northrim BanCorp’s payout ratio is 43.78%.
Separately, ValuEngine upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.
Several large investors have recently bought and sold shares of NRIM. FMR LLC increased its position in shares of Northrim BanCorp by 467.6% during the 1st quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock worth $4,708,000 after purchasing an additional 129,069 shares during the last quarter. Brandes Investment Partners LP acquired a new position in shares of Northrim BanCorp during the 1st quarter worth approximately $1,280,000. Ameriprise Financial Inc. increased its position in shares of Northrim BanCorp by 16.5% during the 1st quarter. Ameriprise Financial Inc. now owns 299,968 shares of the financial services provider’s stock worth $9,014,000 after purchasing an additional 42,405 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Northrim BanCorp during the 2nd quarter worth approximately $1,038,000. Finally, Legato Capital Management LLC acquired a new position in shares of Northrim BanCorp during the 2nd quarter worth approximately $861,000. 71.15% of the stock is currently owned by hedge funds and other institutional investors.
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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