Citadel Advisors LLC Acquires Shares of 8,538 Northrim BanCorp, Inc. (NASDAQ:NRIM)

Citadel Advisors LLC bought a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,538 shares of the financial services provider's stock, valued at approximately $665,000. Citadel Advisors LLC owned approximately 0.16% of Northrim BanCorp at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Northrim BanCorp by 45.1% in the fourth quarter. Bank of America Corp DE now owns 11,291 shares of the financial services provider's stock valued at $880,000 after buying an additional 3,511 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Northrim BanCorp by 17.8% in the 4th quarter. BNP Paribas Financial Markets now owns 5,797 shares of the financial services provider's stock worth $452,000 after acquiring an additional 875 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Northrim BanCorp by 57.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 133 shares in the last quarter. Zacks Investment Management boosted its stake in Northrim BanCorp by 1.7% during the 4th quarter. Zacks Investment Management now owns 44,952 shares of the financial services provider's stock valued at $3,504,000 after purchasing an additional 744 shares during the last quarter. Finally, Barclays PLC increased its holdings in Northrim BanCorp by 5.7% during the 4th quarter. Barclays PLC now owns 21,876 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 1,187 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NRIM. Hovde Group raised their target price on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen lowered Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

Northrim BanCorp Stock Down 1.6%

Shares of NRIM traded down $1.48 during trading hours on Wednesday, reaching $89.71. 59,526 shares of the stock traded hands, compared to its average volume of 33,324. Northrim BanCorp, Inc. has a 52 week low of $52.10 and a 52 week high of $95.30. The company has a market cap of $495.29 million, a price-to-earnings ratio of 13.55 and a beta of 0.93. The stock has a fifty day simple moving average of $80.15 and a 200 day simple moving average of $80.45. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. The firm had revenue of $45.50 million during the quarter, compared to analyst estimates of $44.10 million. On average, equities analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, June 5th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a yield of 2.85%. Northrim BanCorp's dividend payout ratio (DPR) is currently 34.04%.

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.