Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price target of $34.00 for the company, according to Zacks. Zacks has also given Northrim BanCorp an industry rank of 17 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on the stock. ValuEngine cut shares of Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research cut shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th.
Several large investors have recently added to or reduced their stakes in the company. Seizert Capital Partners LLC acquired a new stake in Northrim BanCorp in the 3rd quarter worth approximately $3,419,000. Dimensional Fund Advisors LP boosted its stake in Northrim BanCorp by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 558,458 shares of the financial services provider’s stock worth $19,518,000 after purchasing an additional 35,888 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Northrim BanCorp by 147.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,306 shares of the financial services provider’s stock worth $1,074,000 after purchasing an additional 21,025 shares in the last quarter. FMR LLC boosted its stake in Northrim BanCorp by 10.2% in the 2nd quarter. FMR LLC now owns 172,608 shares of the financial services provider’s stock worth $5,247,000 after purchasing an additional 15,939 shares in the last quarter. Finally, Legato Capital Management LLC boosted its stake in Northrim BanCorp by 53.8% in the 3rd quarter. Legato Capital Management LLC now owns 43,549 shares of the financial services provider’s stock worth $1,522,000 after purchasing an additional 15,225 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.
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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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