Northrim BanCorp Inc (NRIM) Director Buys $10,580.50 in Stock
Northrim BanCorp Inc (NASDAQ:NRIM) Director Larry S. Cash bought 350 shares of Northrim BanCorp stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $30.23 per share, for a total transaction of $10,580.50. Following the purchase, the director now owns 3,776 shares in the company, valued at approximately $114,148.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Northrim BanCorp Inc (NRIM) traded up 1.82% on Friday, reaching $30.85. The company’s stock had a trading volume of 67,369 shares. The stock has a 50-day moving average of $28.69 and a 200 day moving average of $29.81. Northrim BanCorp Inc has a 1-year low of $24.35 and a 1-year high of $33.00. The stock has a market capitalization of $213.17 million, a PE ratio of 15.35 and a beta of 0.59.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. The firm had revenue of $23.96 million during the quarter, compared to analyst estimates of $24.70 million. On average, equities analysts forecast that Northrim BanCorp Inc will post $2.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.21. Northrim BanCorp’s dividend payout ratio (DPR) is 43.78%.
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Separately, ValuEngine raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th.
Several large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Northrim BanCorp by 16.2% during the 2nd quarter. State Street Corp now owns 107,072 shares of the financial services provider’s stock valued at $3,255,000 after buying an additional 14,921 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Northrim BanCorp by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 522,570 shares of the financial services provider’s stock valued at $15,886,000 after buying an additional 27,018 shares during the period. FMR LLC boosted its stake in shares of Northrim BanCorp by 10.2% during the 2nd quarter. FMR LLC now owns 172,608 shares of the financial services provider’s stock valued at $5,247,000 after buying an additional 15,939 shares during the period. Vanguard Group Inc. boosted its stake in shares of Northrim BanCorp by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 240,905 shares of the financial services provider’s stock valued at $7,323,000 after buying an additional 1,773 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Northrim BanCorp by 3.9% during the 2nd quarter. Northern Trust Corp now owns 83,498 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 3,128 shares during the period. 71.15% of the stock is owned by institutional investors.
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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