Insider Selling: Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Sells 453 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Michael G. Huston sold 453 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the transaction, the chief executive officer now owns 23,759 shares in the company, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Northrim BanCorp Price Performance

Shares of NRIM stock opened at $87.05 on Thursday. The company has a market cap of $478.78 million, a P/E ratio of 13.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The stock’s 50-day moving average is $81.19 and its 200 day moving average is $74.36. Northrim BanCorp, Inc. has a 1-year low of $43.92 and a 1-year high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. Research analysts predict that Northrim BanCorp, Inc. will post 7.96 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be issued a $0.64 dividend. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, March 6th. Northrim BanCorp’s payout ratio is currently 37.46%.

Analyst Ratings Changes

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

Institutional Trading of Northrim BanCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock valued at $7,661,000 after buying an additional 8,012 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 2,980 shares during the last quarter. Barclays PLC increased its holdings in shares of Northrim BanCorp by 32.5% during the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider’s stock valued at $1,474,000 after acquiring an additional 5,079 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Northrim BanCorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock valued at $9,040,000 after purchasing an additional 2,133 shares during the last quarter. Finally, FMR LLC boosted its stake in Northrim BanCorp by 13.1% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Company Profile

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.