Ritholtz Wealth Management Has $342,000 Stock Holdings in Northrim BanCorp Inc (NASDAQ:NRIM)

Ritholtz Wealth Management trimmed its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 24.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,665 shares of the financial services provider’s stock after selling 1,486 shares during the quarter. Ritholtz Wealth Management’s holdings in Northrim BanCorp were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of Northrim BanCorp by 57.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the period. Quantbot Technologies LP bought a new position in Northrim BanCorp in the 4th quarter valued at about $112,000. Semanteon Capital Management LP bought a new position in Northrim BanCorp in the 4th quarter valued at about $201,000. Man Group plc acquired a new stake in Northrim BanCorp during the fourth quarter worth approximately $217,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Northrim BanCorp during the fourth quarter worth approximately $221,000. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Trading Down 0.9%

NRIM stock opened at $86.62 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.88. The company’s 50-day simple moving average is $84.42 and its 200 day simple moving average is $80.70. Northrim BanCorp Inc has a 52 week low of $54.58 and a 52 week high of $92.45. The company has a market capitalization of $478.23 million, a PE ratio of 11.52 and a beta of 0.98.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.82. Northrim BanCorp had a net margin of 20.23% and a return on equity of 15.97%. The firm had revenue of $45.50 million during the quarter, compared to the consensus estimate of $44.10 million. As a group, sell-side analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, June 5th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, June 5th. Northrim BanCorp’s dividend payout ratio (DPR) is currently 34.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NRIM shares. Wall Street Zen downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Saturday. Hovde Group boosted their price target on Northrim BanCorp from $99.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, April 28th.

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. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.