Northrim BanCorp Inc $NRIM Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in Northrim BanCorp Inc (NASDAQ:NRIM) by 307.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,076 shares of the financial services provider’s stock after purchasing an additional 23,457 shares during the period. Farther Finance Advisors LLC’s holdings in Northrim BanCorp were worth $673,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in Northrim BanCorp by 0.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 22,618 shares of the financial services provider’s stock valued at $1,656,000 after buying an additional 116 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Northrim BanCorp by 34.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Northrim BanCorp by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 156 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Northrim BanCorp by 159.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 486 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 299 shares during the period. Finally, Creative Planning grew its position in Northrim BanCorp by 11.2% during the 2nd quarter. Creative Planning now owns 3,096 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 1.5%

Northrim BanCorp stock opened at $26.59 on Wednesday. The stock’s 50 day moving average price is $24.58 and its 200 day moving average price is $23.17. Northrim BanCorp Inc has a 1-year low of $16.17 and a 1-year high of $28.21. The company has a market cap of $587.37 million, a PE ratio of 9.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.87.

Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Northrim BanCorp had a return on equity of 18.12% and a net margin of 25.32%.The company had revenue of $66.59 million during the quarter, compared to the consensus estimate of $50.60 million. On average, sell-side analysts predict that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Thursday, December 18th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, December 18th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analysts Forecast Growth

NRIM has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Zacks Research upgraded Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Wall Street Zen raised Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Hovde Group lifted their price objective on shares of Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $33.00.

Insider Buying and Selling at Northrim BanCorp

In other news, Director Shauna Hegna bought 1,186 shares of the stock in a transaction on Tuesday, December 9th. The shares were bought at an average price of $25.25 per share, with a total value of $29,946.50. Following the completion of the acquisition, the director owned 1,638 shares of the company’s stock, valued at approximately $41,359.50. This trade represents a 262.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Mccambridge acquired 1,150 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $24.87 per share, for a total transaction of $28,600.50. Following the completion of the purchase, the director owned 41,598 shares in the company, valued at $1,034,542.26. The trade was a 2.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.90% of the company’s stock.

Northrim BanCorp Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.