Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 22.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,808 shares of the financial services provider’s stock after selling 9,990 shares during the period. Wedbush Securities Inc. owned 0.51% of Northrim BanCorp worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NRIM. BNP Paribas Arbitrage SA lifted its holdings in Northrim BanCorp by 507.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,421 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,187 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Northrim BanCorp by 372.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,482 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 1,957 shares in the last quarter. SG Americas Securities LLC purchased a new position in Northrim BanCorp in the 1st quarter valued at about $129,000. Meeder Asset Management Inc. lifted its holdings in Northrim BanCorp by 18.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,858 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 924 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Northrim BanCorp by 8.3% in the 1st quarter. Brandes Investment Partners LP now owns 7,228 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 557 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Friday, August 9th. BidaskClub upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Friday, August 2nd.

NASDAQ:NRIM traded down $0.65 on Wednesday, reaching $35.45. The stock had a trading volume of 105 shares, compared to its average volume of 14,068. The stock has a market cap of $240.90 million, a P/E ratio of 12.40 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $36.11. Northrim BanCorp, Inc. has a 12-month low of $29.66 and a 12-month high of $45.40.

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 professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.

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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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