Noesis Capital Mangement Corp Makes New $278,000 Investment in Northrim BanCorp Inc (NASDAQ:NRIM)

Noesis Capital Mangement Corp purchased a new position in Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,791 shares of the financial services provider's stock, valued at approximately $278,000. Noesis Capital Mangement Corp owned approximately 0.07% of Northrim BanCorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Citadel Advisors LLC purchased a new stake in Northrim BanCorp in the fourth quarter worth about $665,000. Millennium Management LLC purchased a new stake in shares of Northrim BanCorp during the 4th quarter valued at about $548,000. Man Group plc purchased a new position in shares of Northrim BanCorp during the 4th quarter worth $217,000. GAMMA Investing LLC raised its position in shares of Northrim BanCorp by 37,588.2% during the 1st quarter. GAMMA Investing LLC now owns 12,814 shares of the financial services provider's stock valued at $938,000 after purchasing an additional 12,780 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Northrim BanCorp by 45.1% during the 4th quarter. Bank of America Corp DE now owns 11,291 shares of the financial services provider's stock valued at $880,000 after purchasing an additional 3,511 shares during the period. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Price Performance

Shares of NRIM stock traded down $2.85 on Friday, hitting $86.48. 63,857 shares of the stock traded hands, compared to its average volume of 64,643. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.82. The firm has a market cap of $477.46 million, a price-to-earnings ratio of 10.82 and a beta of 0.96. The firm has a 50 day simple moving average of $91.89 and a two-hundred day simple moving average of $83.15. Northrim BanCorp Inc has a 52 week low of $58.49 and a 52 week high of $100.21.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.26 by ($0.17). The company had revenue of $50.23 million during the quarter, compared to the consensus estimate of $48.80 million. Northrim BanCorp had a net margin of 20.11% and a return on equity of 16.68%. As a group, equities research analysts predict that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, June 5th were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a yield of 2.96%. Northrim BanCorp's dividend payout ratio is currently 32.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NRIM. Hovde Group raised their price objective on shares of Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Saturday.

Northrim BanCorp Profile

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.