Northrim BanCorp (NASDAQ:NRIM) EVP Jed Ballard Sells 3,492 Shares

Northrim BanCorp Inc (NASDAQ:NRIM) EVP Jed Ballard sold 3,492 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $25.91, for a total value of $90,477.72. Following the completion of the transaction, the executive vice president directly owned 26,835 shares in the company, valued at approximately $695,294.85. This trade represents a 11.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Northrim BanCorp Trading Down 0.6%

Shares of NASDAQ NRIM opened at $25.65 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $26.86 and a two-hundred day simple moving average of $25.15. The firm has a market cap of $570.71 million, a PE ratio of 8.44 and a beta of 0.88. Northrim BanCorp Inc has a twelve month low of $19.60 and a twelve month high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $53.79 million during the quarter, compared to analysts’ expectations of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. Analysts expect that Northrim BanCorp Inc will post 2.57 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, September 10th. Northrim BanCorp’s payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

A number of research analysts have commented on NRIM shares. Keefe, Bruyette & Woods assumed coverage on shares of Northrim BanCorp in a research report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Hedge Funds Weigh In On Northrim BanCorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of 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 last quarter. Western Wealth Management LLC purchased a new position in Northrim BanCorp during the 1st quarter worth $27,000. Quarry LP increased its position in Northrim BanCorp by 47.7% during the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after buying an additional 412 shares in the last quarter. Clearstead Advisors LLC increased its position in Northrim BanCorp by 192.4% during the 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock valued at $40,000 after buying an additional 993 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Northrim BanCorp by 298.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,174 shares during the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Company Profile

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.