Northrim BanCorp, Inc. (NASDAQ:NRIM) Director David G. Wight purchased 500 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were acquired at an average cost of $37.09 per share, for a total transaction of $18,545.00. Following the acquisition, the director now owns 12,000 shares of the company’s stock, valued at approximately $445,080. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NRIM traded up $0.82 during mid-day trading on Monday, reaching $37.36. 14,000 shares of the company’s stock traded hands, compared to its average volume of 15,461. The stock has a market cap of $253.39 million, a PE ratio of 13.06 and a beta of 0.68. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a 12 month low of $29.66 and a 12 month high of $45.40.
Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.08). The business had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.80 million. Northrim BanCorp had a net margin of 20.76% and a return on equity of 10.04%. As a group, analysts forecast that Northrim BanCorp, Inc. will post 3.33 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Heritage Trust Co bought a new stake in Northrim BanCorp during the fourth quarter worth approximately $47,000. John W. Rosenthal Capital Management Inc. bought a new stake in Northrim BanCorp during the third quarter worth approximately $155,000. MetLife Investment Advisors LLC raised its holdings in Northrim BanCorp by 55.5% during the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 1,957 shares in the last quarter. Rhumbline Advisers raised its holdings in Northrim BanCorp by 42.5% during the fourth quarter. Rhumbline Advisers now owns 9,463 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Northrim BanCorp during the third quarter worth approximately $490,000. 69.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on NRIM. BidaskClub cut Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Friday, October 19th. ValuEngine cut Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research cut Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th.
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About Northrim BanCorp
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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