Bridgeway Capital Management LLC Sells 14,330 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Bridgeway Capital Management LLC cut its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,162 shares of the financial services provider’s stock after selling 14,330 shares during the period. Bridgeway Capital Management LLC owned approximately 0.84% of Northrim BanCorp worth $3,598,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NRIM. Citadel Advisors LLC bought a new stake in shares of Northrim BanCorp in the 4th quarter worth about $665,000. Bank of America Corp DE increased its stake in Northrim BanCorp by 45.1% during the fourth quarter. Bank of America Corp DE now owns 11,291 shares of the financial services provider’s stock worth $880,000 after acquiring an additional 3,511 shares during the last quarter. BNP Paribas Financial Markets raised its position in Northrim BanCorp by 17.8% during the fourth quarter. BNP Paribas Financial Markets now owns 5,797 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 875 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Northrim BanCorp by 57.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the last quarter. Finally, Zacks Investment Management increased its position in shares of Northrim BanCorp by 1.7% during the 4th quarter. Zacks Investment Management now owns 44,952 shares of the financial services provider’s stock valued at $3,504,000 after purchasing an additional 744 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

Northrim BanCorp stock opened at $84.20 on Friday. Northrim BanCorp, Inc. has a 1-year low of $51.28 and a 1-year high of $91.72. The company’s 50-day moving average is $74.63 and its 200 day moving average is $78.20. The firm has a market capitalization of $464.87 million, a P/E ratio of 12.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.82. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. The firm had revenue of $45.50 million during the quarter, compared to analyst estimates of $44.10 million. Research analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Analyst Ratings Changes

Separately, Hovde Group raised their price target on Northrim BanCorp from $99.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th.

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.