Alps Advisors Inc. Acquires Shares of 4,860 Northrim BanCorp Inc (NASDAQ:NRIM)

Alps Advisors Inc. bought a new stake in Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,860 shares of the financial services provider's stock, valued at approximately $356,000. Alps Advisors Inc. owned approximately 0.09% of Northrim BanCorp as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Northrim BanCorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 301,117 shares of the financial services provider's stock valued at $23,469,000 after purchasing an additional 2,802 shares during the last quarter. American Century Companies Inc. lifted its stake in Northrim BanCorp by 16.4% in the fourth quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider's stock valued at $9,522,000 after purchasing an additional 17,240 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Northrim BanCorp by 16.6% in the fourth quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider's stock valued at $3,840,000 after purchasing an additional 7,009 shares during the last quarter. Zacks Investment Management lifted its position in shares of Northrim BanCorp by 1.7% during the fourth quarter. Zacks Investment Management now owns 44,952 shares of the financial services provider's stock worth $3,504,000 after acquiring an additional 744 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Northrim BanCorp by 28.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the financial services provider's stock worth $2,815,000 after buying an additional 7,961 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Trading Down 0.2%

Shares of NASDAQ:NRIM traded down $0.16 on Friday, reaching $95.89. 59,560 shares of the company traded hands, compared to its average volume of 38,899. The business's 50-day simple moving average is $91.33 and its 200 day simple moving average is $82.54. Northrim BanCorp Inc has a 52 week low of $58.49 and a 52 week high of $100.21. The stock has a market capitalization of $529.31 million, a P/E ratio of 12.75 and a beta of 0.96. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.82. Northrim BanCorp had a return on equity of 15.97% and a net margin of 20.23%. The firm had revenue of $45.50 million for the quarter, compared to analysts' expectations of $44.10 million. As a group, equities analysts anticipate that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.67%. Northrim BanCorp's dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NRIM. Wall Street Zen raised Northrim BanCorp from a "hold" rating to a "buy" rating in a research note on Friday. Hovde Group increased their target price on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

About Northrim BanCorp

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.