Bailard Inc. Buys New Shares in Northrim BanCorp Inc $NRIM

Bailard Inc. bought a new stake in Northrim BanCorp Inc (NASDAQ:NRIM) during the fourth quarter, HoldingsChannel reports. The fund bought 30,136 shares of the financial services provider’s stock, valued at approximately $802,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its stake in Northrim BanCorp by 100.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 20,054 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 10,054 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Northrim BanCorp in the fourth quarter valued at $27,000. SG Americas Securities LLC bought a new position in Northrim BanCorp in the fourth quarter valued at $382,000. Gryphon Financial Partners LLC bought a new position in Northrim BanCorp in the fourth quarter valued at $354,000. Finally, JPMorgan Chase & Co. increased its stake in Northrim BanCorp by 314.2% in the third quarter. JPMorgan Chase & Co. now owns 191,908 shares of the financial services provider’s stock valued at $4,157,000 after acquiring an additional 145,578 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $23.50 on Friday. The company has a 50-day simple moving average of $23.73 and a two-hundred day simple moving average of $24.78. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Northrim BanCorp Inc has a 12-month low of $19.60 and a 12-month high of $30.82. The firm has a market cap of $522.88 million, a price-to-earnings ratio of 8.15 and a beta of 0.90.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. The business had revenue of $48.30 million during the quarter, compared to analyst estimates of $50.60 million. On average, equities analysts forecast that Northrim BanCorp Inc will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

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.