Northrim BanCorp Inc (NASDAQ:NRIM – Get Free Report) Director Anthony Drabek sold 1,200 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $25.52, for a total value of $30,624.00. Following the sale, the director owned 14,120 shares of the company’s stock, valued at approximately $360,342.40. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Northrim BanCorp Price Performance
NASDAQ NRIM opened at $25.79 on Thursday. Northrim BanCorp Inc has a 52 week low of $19.60 and a 52 week high of $30.82. The firm has a market capitalization of $573.70 million, a P/E ratio of 8.48 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $26.84 and a 200-day moving average price of $25.15.
Northrim BanCorp (NASDAQ:NRIM – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $53.79 million for the quarter, compared to analysts’ expectations of $51.80 million. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.33%. Equities research analysts anticipate that Northrim BanCorp Inc will post 2.57 earnings per share for the current year.
Northrim BanCorp Increases Dividend
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Northrim BanCorp in a research note on Wednesday, July 1st. They set a “market perform” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.
Get Our Latest Stock Analysis on NRIM
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Northrim BanCorp by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 156 shares during the period. Creative Planning boosted its position in shares of Northrim BanCorp by 11.2% in the second quarter. Creative Planning now owns 3,096 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 313 shares during the period. Occudo Quantitative Strategies LP increased its stake in shares of Northrim BanCorp by 9.8% in the second quarter. Occudo Quantitative Strategies LP now owns 3,960 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 355 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Northrim BanCorp by 47.7% in the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 412 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors.
Northrim BanCorp Company Profile
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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