33,786 Shares in Northrim BanCorp Inc $NRIM Bought by Boston Partners

Key Points

• Boston Partners invested approximately $2.47 million in Northrim BanCorp, acquiring 33,786 shares and holding 0.61% of the company as of the latest SEC filing.
• Northrim BanCorp reported earnings per share of $2.09 for the last quarter, falling short of estimates, while revenue was $50.23 million, exceeding expectations.
• The company announced a quarterly dividend of $0.64, representing an annual dividend yield of 3.0% with a payout ratio of 32.04%.

Boston Partners acquired a new position in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,786 shares of the financial services provider's stock, valued at approximately $2,474,000. Boston Partners owned 0.61% of Northrim BanCorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Northrim BanCorp by 10.8% during the first quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider's stock worth $24,427,000 after purchasing an additional 32,492 shares during the period. De Lisle Partners LLP raised its stake in Northrim BanCorp by 23.2% in the first quarter. De Lisle Partners LLP now owns 94,983 shares of the financial services provider's stock valued at $6,969,000 after purchasing an additional 17,888 shares in the last quarter. Alaska Wealth Advisors grew its position in Northrim BanCorp by 113.3% in the first quarter. Alaska Wealth Advisors now owns 27,429 shares of the financial services provider's stock valued at $2,008,000 after acquiring an additional 14,569 shares during the last quarter. Raymond James Financial Inc. bought a new position in Northrim BanCorp in the fourth quarter valued at about $1,794,000. Finally, First Manhattan CO. LLC. grew its position in Northrim BanCorp by 0.6% in the fourth quarter. First Manhattan CO. LLC. now owns 22,625 shares of the financial services provider's stock valued at $1,763,000 after acquiring an additional 125 shares during the last quarter. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Price Performance

NASDAQ:NRIM traded up $5.10 during trading hours on Friday, hitting $92.51. The stock had a trading volume of 10,422 shares, compared to its average volume of 49,186. The company has a 50 day simple moving average of $90.09 and a two-hundred day simple moving average of $83.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.87. Northrim BanCorp Inc has a one year low of $63.68 and a one year high of $100.21. The firm has a market capitalization of $510.66 million, a price-to-earnings ratio of 11.62 and a beta of 1.00.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.17). Northrim BanCorp had a net margin of 20.11% and a return on equity of 16.35%. The firm had revenue of $50.23 million during the quarter, compared to the consensus estimate of $48.80 million. Research analysts forecast that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.8%. Northrim BanCorp's dividend payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NRIM. Wall Street Zen cut Northrim BanCorp from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Hovde Group boosted their price target on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $104.00.

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.