Connor Clark & Lunn Investment Management Ltd. acquired a new position in Northrim BanCorp Inc (NASDAQ:NRIM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 198,965 shares of the financial services provider’s stock, valued at approximately $5,519,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.89% of Northrim BanCorp at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Western Wealth Management LLC acquired a new position in Northrim BanCorp in the first quarter worth approximately $27,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Northrim BanCorp by 298.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,174 shares in the last quarter. Quarry LP grew its holdings in shares of Northrim BanCorp by 47.7% in the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 412 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Northrim BanCorp by 227.2% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,261 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Northrim BanCorp by 192.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 993 shares during the period. 65.99% of the stock is currently owned by institutional investors.
Northrim BanCorp Price Performance
Shares of NASDAQ:NRIM opened at $25.80 on Friday. The firm has a market cap of $573.92 million, a price-to-earnings ratio of 8.49 and a beta of 0.88. Northrim BanCorp Inc has a 1 year low of $19.60 and a 1 year high of $30.82. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $26.86 and a 200 day simple moving average of $25.15.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods began coverage on Northrim BanCorp in a research note on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Northrim BanCorp has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.
Read Our Latest Research Report on NRIM
Insider Activity at Northrim BanCorp
In related news, EVP Jason Alexander Criqui sold 13,488 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $26.44, for a total value of $356,622.72. Following the transaction, the executive vice president owned 12,653 shares in the company, valued at approximately $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.
About Northrim BanCorp
Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.
With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.
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