Pacific Ridge Capital Partners LLC cut its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,639 shares of the financial services provider’s stock after selling 8,377 shares during the period. Pacific Ridge Capital Partners LLC owned about 1.07% of Northrim BanCorp worth $3,060,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in Northrim BanCorp by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,174 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 2,311 shares during the period. John W. Rosenthal Capital Management Inc. purchased a new stake in Northrim BanCorp during the third quarter worth about $155,000. First Trust Advisors LP increased its stake in Northrim BanCorp by 21.2% during the second quarter. First Trust Advisors LP now owns 9,714 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,699 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Northrim BanCorp during the third quarter worth about $490,000. Finally, Russell Investments Group Ltd. increased its stake in Northrim BanCorp by 12.0% during the second quarter. Russell Investments Group Ltd. now owns 14,953 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 1,599 shares during the period. Institutional investors own 70.94% of the company’s stock.
In related news, Director Linda C. Thomas acquired 700 shares of the stock in a transaction dated Tuesday, December 4th. The stock was acquired at an average cost of $35.80 per share, with a total value of $25,060.00. Following the completion of the transaction, the director now owns 3,090 shares in the company, valued at approximately $110,622. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 1,860 shares of company stock valued at $71,737. Corporate insiders own 2.90% of the company’s stock.
A number of analysts have issued reports on the stock. BidaskClub lowered shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th.
Shares of Northrim BanCorp stock opened at $33.00 on Friday. Northrim BanCorp, Inc. has a one year low of $32.60 and a one year high of $45.40. The stock has a market cap of $239.30 million, a PE ratio of 13.22 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.83.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.13. Northrim BanCorp had a return on equity of 9.28% and a net margin of 16.25%. The business had revenue of $24.49 million during the quarter, compared to the consensus estimate of $24.10 million. On average, sell-side analysts predict that Northrim BanCorp, Inc. will post 2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Thursday, December 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, December 12th. Northrim BanCorp’s dividend payout ratio is presently 52.94%.
Northrim BanCorp Profile
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.
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