Insider Buying: Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Purchases 200 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano acquired 200 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $75.63 per share, with a total value of $15,126.00. Following the completion of the acquisition, the director now owns 1,207 shares in the company, valued at $91,285.41. This trade represents a 19.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Northrim BanCorp Stock Performance

NRIM opened at $75.43 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $80.37 and its two-hundred day moving average price is $77.05. The firm has a market capitalization of $416.45 million, a P/E ratio of 11.39 and a beta of 0.82. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. On average, equities analysts forecast that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.64 per share. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 6th. This represents a $2.56 annualized dividend and a dividend yield of 3.39%. Northrim BanCorp’s payout ratio is presently 38.67%.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on shares of Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 price target for the company.

Institutional Investors Weigh In On Northrim BanCorp

Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Northrim BanCorp by 57.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares during the period. DecisionPoint Financial LLC bought a new stake in shares of Northrim BanCorp during the fourth quarter valued at approximately $39,000. Quantbot Technologies LP acquired a new position in shares of Northrim BanCorp in the fourth quarter valued at $112,000. FMR LLC lifted its position in Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after buying an additional 513 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

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.