Northrim BanCorp Inc $NRIM Stock Holdings Increased by Alaska Wealth Advisors LLC

Alaska Wealth Advisors LLC raised its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 212.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,721 shares of the financial services provider’s stock after buying an additional 207,930 shares during the period. Northrim BanCorp makes up 0.8% of Alaska Wealth Advisors LLC’s portfolio, making the stock its 18th biggest position. Alaska Wealth Advisors LLC’s holdings in Northrim BanCorp were worth $6,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NRIM. Financial Management Professionals Inc. bought a new stake in shares of Northrim BanCorp in the 4th quarter worth $27,000. Quarry LP raised its position in Northrim BanCorp by 47.7% in the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 412 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Northrim BanCorp by 298.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,174 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Northrim BanCorp by 227.2% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,261 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Northrim BanCorp by 192.4% during the 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 993 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NRIM has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods began coverage on Northrim BanCorp in a research report on Wednesday. They set a “market perform” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Northrim BanCorp Trading Down 0.1%

Shares of NASDAQ NRIM opened at $27.72 on Thursday. Northrim BanCorp Inc has a one year low of $19.60 and a one year high of $30.82. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $616.77 million, a PE ratio of 9.62 and a beta of 0.86. The business has a 50-day moving average price of $24.99 and a two-hundred day moving average price of $25.14.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. The firm had revenue of $49.46 million during the quarter, compared to analysts’ expectations of $50.60 million. As a group, analysts predict that Northrim BanCorp Inc will post 2.6 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is presently 22.22%.

Northrim BanCorp Company 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.