Y Intercept Hong Kong Ltd bought a new stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 114,043 shares of the financial services provider’s stock, valued at approximately $2,609,000. Y Intercept Hong Kong Ltd owned approximately 0.51% of Northrim BanCorp at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Northrim BanCorp by 326.4% during the third quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after purchasing an additional 1,254,870 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Northrim BanCorp by 248.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock worth $29,166,000 after purchasing an additional 960,299 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Northrim BanCorp by 344.3% during the third quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock worth $14,423,000 after buying an additional 516,030 shares in the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of Northrim BanCorp by 1,148.3% during the third quarter. Punch & Associates Investment Management Inc. now owns 247,496 shares of the financial services provider’s stock worth $5,361,000 after buying an additional 227,669 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Northrim BanCorp by 239.7% in the third quarter. Ameriprise Financial Inc. now owns 302,192 shares of the financial services provider’s stock valued at $6,545,000 after buying an additional 213,238 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.
Northrim BanCorp Trading Down 0.6%
Shares of NRIM stock opened at $27.11 on Wednesday. The company’s 50-day moving average price is $25.20 and its 200-day moving average price is $25.13. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. The stock has a market cap of $603.20 million, a price-to-earnings ratio of 9.41 and a beta of 0.86. Northrim BanCorp Inc has a twelve month low of $19.60 and a twelve month high of $30.82.
Northrim BanCorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a $0.16 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. Northrim BanCorp’s dividend payout ratio is currently 22.22%.
Analysts Set New Price Targets
A number of research firms recently weighed in on NRIM. Keefe, Bruyette & Woods initiated coverage on shares of Northrim BanCorp in a research report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Northrim BanCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.
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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