Northrim BanCorp (NASDAQ:NRIM) CEO Acquires $34,200.00 in Stock

Northrim BanCorp Inc (NASDAQ:NRIM) CEO Michael Huston purchased 1,500 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was bought at an average cost of $22.80 per share, for a total transaction of $34,200.00. Following the acquisition, the chief executive officer owned 83,252 shares in the company, valued at approximately $1,898,145.60. The trade was a 1.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Northrim BanCorp Stock Performance

Shares of Northrim BanCorp stock traded up $0.27 during trading on Thursday, hitting $22.88. 214,693 shares of the stock were exchanged, compared to its average volume of 222,436. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.87 and a current ratio of 0.91. The stock’s fifty day moving average is $26.51 and its 200 day moving average is $23.74. The stock has a market cap of $505.44 million, a PE ratio of 7.98 and a beta of 0.97. Northrim BanCorp Inc has a 12 month low of $16.17 and a 12 month high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.10). Northrim BanCorp had a net margin of 25.17% and a return on equity of 18.13%. The firm had revenue of $51.66 million during the quarter, compared to analyst estimates of $52.70 million. As a group, sell-side analysts anticipate that Northrim BanCorp Inc will post 8.05 EPS for the current year.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, March 5th. Northrim BanCorp’s dividend payout ratio (DPR) is 22.30%.

Wall Street Analyst Weigh In

NRIM has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a report on Wednesday, December 24th. Hovde Group boosted their target price on Northrim BanCorp from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Zacks Research lowered Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northrim BanCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Institutional Investors Weigh In On Northrim BanCorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new position in shares of Northrim BanCorp in the 4th quarter valued at $27,000. Federated Hermes Inc. lifted its stake in Northrim BanCorp by 300.0% during the third quarter. Federated Hermes Inc. now owns 1,452 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,089 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of 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 worth $34,000 after buying an additional 1,174 shares during the period. CWM LLC increased its position in shares of Northrim BanCorp by 286.6% in the third quarter. CWM LLC now owns 1,616 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Northrim BanCorp by 289.5% during the third quarter. Assetmark Inc. now owns 1,780 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,323 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

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.