Wedbush Securities Inc. lowered its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 20.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,798 shares of the financial services provider’s stock after selling 11,751 shares during the quarter. Wedbush Securities Inc.’s holdings in Northrim BanCorp were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Northrim BanCorp by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 577,362 shares of the financial services provider’s stock worth $23,989,000 after purchasing an additional 4,917 shares in the last quarter. BlackRock Inc. lifted its stake in Northrim BanCorp by 5.4% in the 4th quarter. BlackRock Inc. now owns 556,173 shares of the financial services provider’s stock worth $18,281,000 after purchasing an additional 28,573 shares in the last quarter. Vanguard Group Inc lifted its stake in Northrim BanCorp by 8.9% in the 3rd quarter. Vanguard Group Inc now owns 347,731 shares of the financial services provider’s stock worth $14,449,000 after purchasing an additional 28,493 shares in the last quarter. Vanguard Group Inc. lifted its stake in Northrim BanCorp by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 347,731 shares of the financial services provider’s stock worth $14,449,000 after purchasing an additional 28,493 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Northrim BanCorp by 20.7% in the 3rd quarter. Renaissance Technologies LLC now owns 182,000 shares of the financial services provider’s stock worth $7,562,000 after purchasing an additional 31,200 shares in the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Shares of NASDAQ NRIM remained flat at $$34.56 during mid-day trading on Thursday. 1,051 shares of the stock traded hands, compared to its average volume of 14,180. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.84. The stock has a market cap of $237.84 million, a PE ratio of 12.08 and a beta of 0.72. Northrim BanCorp, Inc. has a 52-week low of $29.66 and a 52-week high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.08). The business had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.80 million. Northrim BanCorp had a net margin of 20.76% and a return on equity of 9.96%. On average, equities analysts forecast that Northrim BanCorp, Inc. will post 2.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.47%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, March 13th. Northrim BanCorp’s dividend payout ratio is currently 41.96%.

Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. BidaskClub cut shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 1st.

COPYRIGHT VIOLATION WARNING: “Northrim BanCorp, Inc. (NRIM) Shares Sold by Wedbush Securities Inc.” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.thecerbatgem.com/2019/04/18/northrim-bancorp-inc-nrim-shares-sold-by-wedbush-securities-inc.html.

About Northrim BanCorp

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.

Further Reading: Resistance Level

Want to see what other hedge funds are holding NRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrim BanCorp, Inc. (NASDAQ:NRIM).

Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

Receive News & Ratings for Northrim BanCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp and related companies with MarketBeat.com's FREE daily email newsletter.