Occudo Quantitative Strategies LP Acquires Shares of 2,835 Northrim BanCorp, Inc. (NASDAQ:NRIM)

Occudo Quantitative Strategies LP acquired a new stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,835 shares of the financial services provider’s stock, valued at approximately $221,000. Occudo Quantitative Strategies LP owned about 0.05% of Northrim BanCorp as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its position 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 last quarter. DecisionPoint Financial LLC bought a new position in Northrim BanCorp during the fourth quarter valued at $39,000. Quantbot Technologies LP bought a new position in shares of Northrim BanCorp in the fourth quarter worth about $112,000. SG Americas Securities LLC grew its holdings in shares of Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 513 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in shares of Northrim BanCorp in the fourth quarter worth about $201,000. Institutional investors own 65.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Northrim BanCorp Trading Down 0.2%

NASDAQ NRIM opened at $89.24 on Friday. The company’s 50-day moving average price is $76.00 and its 200-day moving average price is $79.10. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market cap of $492.69 million, a PE ratio of 13.48 and a beta of 0.93. Northrim BanCorp, Inc. has a 12 month low of $51.50 and a 12 month high of $91.72.

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

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.