Punch & Associates Investment Management Inc. Grows Stock Position in Northrim BanCorp Inc $NRIM

Punch & Associates Investment Management Inc. raised its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 22.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 302,900 shares of the financial services provider’s stock after acquiring an additional 55,404 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Northrim BanCorp were worth $8,060,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NRIM. Financial Management Professionals Inc. purchased a new position in shares of Northrim BanCorp during the 4th quarter valued at about $27,000. Quarry LP raised its stake in shares of 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 during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Northrim BanCorp by 298.0% during the 3rd 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. Assetmark Inc. raised its stake in shares of Northrim BanCorp by 289.5% during the 3rd quarter. Assetmark Inc. now owns 1,780 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,323 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Northrim BanCorp by 227.2% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,261 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $25.27 on Wednesday. The stock has a 50-day simple moving average of $24.55 and a two-hundred day simple moving average of $25.03. The firm has a market capitalization of $562.26 million, a P/E ratio of 8.77 and a beta of 0.88. Northrim BanCorp Inc has a fifty-two week low of $19.60 and a fifty-two week high of $30.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The business had revenue of $49.46 million during the quarter, compared to analyst estimates of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. On average, equities analysts forecast that Northrim BanCorp Inc will post 2.6 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. Northrim BanCorp’s dividend payout ratio (DPR) is 22.22%.

Northrim BanCorp 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.