Alaska Wealth Advisors LLC acquired a new stake in Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 305,721 shares of the financial services provider's stock, valued at approximately $8,481,000. Northrim BanCorp makes up approximately 0.9% of Alaska Wealth Advisors LLC's holdings, making the stock its 16th largest position. Alaska Wealth Advisors LLC owned about 1.37% of Northrim BanCorp at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Northrim BanCorp in the 2nd quarter worth $81,184,000. Deutsche Bank AG purchased a new position in Northrim BanCorp during the second quarter valued at $601,000. Bank of New York Mellon Corp acquired a new stake in shares of Northrim BanCorp in the second quarter valued at about $3,985,000. Summit Global Investments acquired a new stake in shares of Northrim BanCorp in the second quarter valued at about $479,000. Finally, Western Wealth Management LLC purchased a new position in Northrim BanCorp in the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 65.99% of the company's stock.
Northrim BanCorp Trading Up 0.2%
NASDAQ NRIM opened at $25.80 on Friday. Northrim BanCorp Inc has a 12 month low of $19.60 and a 12 month high of $30.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.91. The company has a market capitalization of $573.92 million, a price-to-earnings ratio of 8.49 and a beta of 0.88. The firm's fifty day moving average price is $26.81 and its 200 day moving average price is $25.14.
Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. The firm had revenue of $53.79 million during the quarter, compared to analysts' expectations of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. On average, sell-side analysts expect that Northrim BanCorp Inc will post 2.57 earnings per share for the current fiscal year.
Northrim BanCorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 11th. Northrim BanCorp's dividend payout ratio (DPR) is presently 21.05%.
Insider Buying and Selling at Northrim BanCorp
In other Northrim BanCorp news, EVP Jason Alexander Criqui sold 13,488 shares of Northrim BanCorp 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 directly owned 12,653 shares in the company, valued at approximately $334,545.32. This trade represents a 51.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.40% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods started coverage on Northrim BanCorp in a report on Wednesday, July 1st. They issued a "market perform" rating and a $30.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, 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
Northrim BanCorp Company Profile
(
Free Report)
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.
See Also
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