Insider Buying: Northrim BanCorp Director Buys 2,000 Shares of Stock (NRIM)
Northrim BanCorp (NASDAQ:NRIM) Director David G. Wight purchased 2,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 28th. The stock was purchased at an average cost of $24.41 per share, for a total transaction of $48,820.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $97,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Zacks upgraded shares of Northrim BanCorp from a “neutral” rating to an “outperform” rating in a research note on Monday, August 4th. They now have a $28.30 price target on the stock.
Shares of Northrim BanCorp (NASDAQ:NRIM) traded up 0.37% during mid-day trading on Friday, hitting $24.42. The stock had a trading volume of 11,302 shares. Northrim BanCorp has a 52-week low of $22.50 and a 52-week high of $26.90. The stock’s 50-day moving average is $24.56 and its 200-day moving average is $24.78. The company has a market cap of $166.8 million and a P/E ratio of 12.34.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.26. Analysts expect that Northrim BanCorp will post $2.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Tuesday, September 9th.
Northrim BanCorp, Inc is a bank holding company for Northrim Bank (NASDAQ:NRIM).
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