Citadel Advisors LLC Invests $665,000 in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Citadel Advisors LLC bought a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 and hedge funds have also bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in shares of Northrim BanCorp by 57.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider's stock worth $29,000 after buying an additional 133 shares during the period. DecisionPoint Financial LLC purchased a new stake in shares of Northrim BanCorp in the 4th quarter worth about $39,000. Quantbot Technologies LP purchased a new stake in shares of Northrim BanCorp in the 4th quarter worth about $112,000. SG Americas Securities LLC grew its position in shares of Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock worth $195,000 after buying an additional 513 shares during the period. Finally, Semanteon Capital Management LP purchased a new stake in shares of Northrim BanCorp in the 4th quarter worth about $201,000. 65.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM traded up $0.88 during trading on Tuesday, hitting $91.07. The company's stock had a trading volume of 57,635 shares, compared to its average volume of 33,107. The company has a 50-day moving average of $79.49 and a 200-day moving average of $80.31. Northrim BanCorp, Inc. has a 12 month low of $52.10 and a 12 month high of $92.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market cap of $502.80 million, a price-to-earnings ratio of 13.76 and a beta of 0.93.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $44.10 million. On average, sell-side analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

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 given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, June 5th. Northrim BanCorp's dividend payout ratio is presently 34.04%.

Analyst Ratings Changes

A number of analysts have weighed in on NRIM shares. Wall Street Zen lowered shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a research note on Friday. Hovde Group increased their price objective on shares of Northrim BanCorp from $99.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th.

Northrim BanCorp Company 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.