Northrim BanCorp Inc (NASDAQ:NRIM) Director Krystal Murphy Nelson purchased 700 shares of Northrim BanCorp stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $29.89 per share, for a total transaction of $20,923.00. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $56,791. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Northrim BanCorp Inc (NASDAQ NRIM) remained flat at $29.90 during midday trading on Tuesday. 17,810 shares of the company traded hands. The firm’s 50 day moving average price is $28.59 and its 200 day moving average price is $29.81. The company has a market cap of $206.61 million, a P/E ratio of 14.88 and a beta of 0.59. Northrim BanCorp Inc has a 52-week low of $24.35 and a 52-week high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. The company had revenue of $23.96 million during the quarter, compared to the consensus estimate of $24.70 million. On average, equities analysts forecast that Northrim BanCorp Inc will post $2.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, September 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.21. Northrim BanCorp’s dividend payout ratio (DPR) is currently 43.78%.
Separately, ValuEngine raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.
Several hedge funds have recently made changes to their positions in the business. American International Group Inc. lifted its position in shares of Northrim BanCorp by 6.9% during the 1st quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock worth $124,000 after buying an additional 267 shares during the period. Bank of America Corp DE lifted its position in shares of Northrim BanCorp by 6.1% during the 1st quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock worth $185,000 after buying an additional 353 shares during the period. Nationwide Fund Advisors lifted its position in shares of Northrim BanCorp by 37.7% during the 2nd quarter. Nationwide Fund Advisors now owns 6,214 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,700 shares during the period. Rhumbline Advisers bought a new position in shares of Northrim BanCorp during the 2nd quarter worth approximately $222,000. Finally, New York State Common Retirement Fund lifted its position in shares of Northrim BanCorp by 119.1% during the 2nd quarter. New York State Common Retirement Fund now owns 8,092 shares of the financial services provider’s stock worth $246,000 after buying an additional 4,399 shares during the period. Institutional investors own 71.15% of the company’s stock.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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