61,073 Shares in Northrim BanCorp Inc $NRIM Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Northrim BanCorp Inc (NASDAQ:NRIM) in the first quarter, HoldingsChannel reports. The fund bought 61,073 shares of the financial services provider’s stock, valued at approximately $1,397,000.

A number of other institutional investors have also recently added to or reduced their stakes in NRIM. Vanguard Group Inc. increased its position in shares of Northrim BanCorp by 326.4% during the third quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after acquiring an additional 1,254,870 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Northrim BanCorp by 248.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock valued at $29,166,000 after purchasing an additional 960,299 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Northrim BanCorp by 18.5% in the fourth quarter. Geode Capital Management LLC now owns 727,180 shares of the financial services provider’s stock valued at $19,353,000 after purchasing an additional 113,293 shares during the last quarter. De Lisle Partners LLP grew its stake in Northrim BanCorp by 3.9% during the 4th quarter. De Lisle Partners LLP now owns 460,708 shares of the financial services provider’s stock valued at $12,268,000 after purchasing an additional 17,296 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in Northrim BanCorp by 7.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 326,410 shares of the financial services provider’s stock valued at $7,468,000 after purchasing an additional 23,510 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 0.7%

Shares of Northrim BanCorp stock opened at $26.37 on Friday. The stock has a market capitalization of $586.73 million, a price-to-earnings ratio of 8.67 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. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is $26.47 and its 200-day simple moving average is $25.09.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. Equities research analysts forecast that Northrim BanCorp Inc will post 2.53 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. Northrim BanCorp’s payout ratio is 21.05%.

Analyst Ratings Changes

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

Insider Activity

In other news, EVP Jason Alexander Criqui sold 13,488 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $26.44, for a total transaction of $356,622.72. Following the completion of the transaction, the executive vice president owned 12,653 shares in the company, valued at approximately $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

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.