Rosenthal Henry Capital Advisors Inc. Purchases 90,000 Shares of Northrim BanCorp Inc $NRIM

Rosenthal Henry Capital Advisors Inc. increased its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 300.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the financial services provider’s stock after acquiring an additional 90,000 shares during the quarter. Northrim BanCorp comprises about 2.5% of Rosenthal Henry Capital Advisors Inc.’s investment portfolio, making the stock its 13th largest position. Rosenthal Henry Capital Advisors Inc. owned approximately 0.54% of Northrim BanCorp worth $2,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Northrim BanCorp by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock worth $233,000 after buying an additional 156 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Northrim BanCorp by 159.9% during the second quarter. Cullen Frost Bankers Inc. now owns 486 shares of the financial services provider’s stock worth $45,000 after buying an additional 299 shares during the last quarter. Creative Planning lifted its holdings in Northrim BanCorp by 11.2% in the second quarter. Creative Planning now owns 3,096 shares of the financial services provider’s stock valued at $289,000 after buying an additional 313 shares during the period. Finally, Occudo Quantitative Strategies LP boosted its stake in Northrim BanCorp by 9.8% in the second quarter. Occudo Quantitative Strategies LP now owns 3,960 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 355 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northrim BanCorp

In related news, Director Shauna Hegna bought 1,186 shares of Northrim BanCorp stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average cost of $25.25 per share, with a total value of $29,946.50. Following the purchase, the director owned 1,638 shares in the company, valued at approximately $41,359.50. This trade represents a 262.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Mccambridge purchased 1,150 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was purchased at an average cost of $24.87 per share, for a total transaction of $28,600.50. Following the purchase, the director directly owned 41,598 shares in the company, valued at approximately $1,034,542.26. This trade represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on NRIM shares. Hovde Group upped their target price on shares of Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Zacks Research upgraded Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Finally, Wall Street Zen upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.00.

Northrim BanCorp Stock Down 1.6%

NASDAQ:NRIM opened at $27.73 on Wednesday. Northrim BanCorp Inc has a 1 year low of $16.17 and a 1 year high of $28.48. The stock has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $23.52. The stock has a market cap of $612.58 million, a price-to-earnings ratio of 9.89 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. Northrim BanCorp had a return on equity of 18.12% and a net margin of 25.32%.The business had revenue of $66.59 million for the quarter, compared to analysts’ expectations of $50.60 million. As a group, equities analysts expect that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Thursday, December 18th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, December 18th. Northrim BanCorp’s dividend payout ratio is 22.78%.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.