Insider Buying: Northrim BanCorp Director Buys 404 Shares of Stock (NRIM)
Northrim BanCorp (NASDAQ:NRIM) Director Ronald A. Davis acquired 404 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The shares were purchased at an average cost of $24.73 per share, for a total transaction of $9,990.92. Following the completion of the transaction, the director now directly owns 8,354 shares in the company, valued at approximately $206,594. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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 down 0.12% on Friday, hitting $24.30. The stock had a trading volume of 5,398 shares. Northrim BanCorp has a one year low of $22.50 and a one year 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 $166.0 million and a price-to-earnings ratio of 12.34.
Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.26. On average, analysts predict that Northrim BanCorp will post $2.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Investors 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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