Insider Buying: Northrim BanCorp Inc (NRIM) Director Buys 645 Shares of Stock
Northrim BanCorp Inc (NASDAQ:NRIM) Director Larry S. Cash bought 645 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $30.25 per share, for a total transaction of $19,511.25. Following the purchase, the director now directly owns 3,776 shares in the company, valued at approximately $114,224. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Northrim BanCorp Inc (NASDAQ:NRIM) traded up 1.82% during midday trading on Friday, hitting $30.85. 67,335 shares of the stock were exchanged. The stock has a market cap of $213.17 million, a P/E ratio of 15.35 and a beta of 0.59. Northrim BanCorp Inc has a 12 month low of $24.35 and a 12 month high of $33.00. The firm has a 50 day moving average of $28.64 and a 200-day moving average of $29.81.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $23.96 million for the quarter, compared to analysts’ expectations of $24.70 million. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. Equities research analysts anticipate that Northrim BanCorp Inc will post $2.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.85%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, September 6th. Northrim BanCorp’s dividend payout ratio is presently 43.78%.
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Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Northrim BanCorp by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 40,405 shares of the financial services provider’s stock worth $1,215,000 after acquiring an additional 2,340 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Northrim BanCorp by 19.1% during the 2nd quarter. Brandes Investment Partners LP now owns 50,765 shares of the financial services provider’s stock worth $1,544,000 after acquiring an additional 8,158 shares in the last quarter. FMR LLC grew its holdings in Northrim BanCorp by 467.6% during the 1st quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock worth $4,708,000 after acquiring an additional 129,069 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its holdings in Northrim BanCorp by 9.4% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 52,445 shares of the financial services provider’s stock worth $1,594,000 after acquiring an additional 4,521 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Northrim BanCorp by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 239,132 shares of the financial services provider’s stock worth $7,186,000 after acquiring an additional 23,806 shares in the last quarter. Institutional investors own 71.15% of the company’s stock.
Separately, ValuEngine raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th.
About Northrim BanCorp
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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