Arrowstreet Capital Limited Partnership lifted its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 15.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 291,767 shares of the financial services provider's stock after acquiring an additional 39,463 shares during the period. Arrowstreet Capital Limited Partnership owned 1.31% of Northrim BanCorp worth $6,676,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NRIM. Vanguard Group Inc. lifted its position in shares of Northrim BanCorp by 326.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider's stock worth $35,508,000 after buying an additional 1,254,870 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Northrim BanCorp by 248.6% in 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 in the last quarter. Geode Capital Management LLC boosted its position in Northrim BanCorp by 18.5% during the fourth quarter. Geode Capital Management LLC now owns 727,180 shares of the financial services provider's stock valued at $19,353,000 after buying an additional 113,293 shares during the period. De Lisle Partners LLP increased its position in shares of Northrim BanCorp by 3.9% in the fourth quarter. De Lisle Partners LLP now owns 460,708 shares of the financial services provider's stock valued at $12,268,000 after acquiring an additional 17,296 shares during the period. Finally, Alaska Wealth Advisors LLC boosted its holdings in Northrim BanCorp by 212.6% in the first quarter. Alaska Wealth Advisors LLC now owns 305,721 shares of the financial services provider's stock valued at $6,995,000 after acquiring an additional 207,930 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.
Northrim BanCorp Price Performance
Shares of NASDAQ NRIM opened at $26.51 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. Northrim BanCorp Inc has a 12-month low of $19.60 and a 12-month high of $30.82. The firm's 50-day moving average price is $26.26 and its 200-day moving average price is $25.12. The stock has a market capitalization of $589.85 million, a price-to-earnings ratio of 8.72 and a beta of 0.88.
Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. Northrim BanCorp had a return on equity of 17.62% and a net margin of 26.03%. On average, equities research analysts anticipate that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.
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 dividend of $0.16 per share. 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 payout ratio is presently 21.05%.
Analysts Set New Price Targets
A number of analysts have recently commented on NRIM shares. Keefe, Bruyette & Woods started coverage on Northrim BanCorp in a research report on Wednesday, July 1st. They issued a "market perform" rating and a $30.00 price target on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Northrim BanCorp has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.
Read 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.
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