Dimensional Fund Advisors LP Has $27.61 Million Holdings in Northrim BanCorp Inc $NRIM

Key Points

• Dimensional Fund Advisors reduced its Northrim BanCorp stake by 3.7% in the first quarter, but still held 1.21 million shares worth $27.61 million, or 5.43% of the company. Institutional investors collectively own 65.99% of NRIM.
• Northrim BanCorp reported quarterly EPS of $0.68, exceeding the $0.61 consensus estimate, while revenue of $53.79 million also surpassed expectations. The company maintains a quarterly dividend of $0.16, equivalent to a 2.4% annual yield.
• Analysts have a consensus “Moderate Buy” rating and a $31.50 price target, compared with the stock’s reported opening price of $26.99. An executive vice president recently sold 13,488 shares, reducing his holdings by 51.6%.

Dimensional Fund Advisors LP trimmed its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,206,608 shares of the financial services provider's stock after selling 46,234 shares during the quarter. Dimensional Fund Advisors LP owned 5.43% of Northrim BanCorp worth $27,607,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 138 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Northrim BanCorp by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider's stock valued at $233,000 after buying an additional 156 shares during the last quarter. Creative Planning increased its position in shares of Northrim BanCorp by 11.2% during the second quarter. Creative Planning now owns 3,096 shares of the financial services provider's stock worth $289,000 after acquiring an additional 313 shares in the last quarter. Occudo Quantitative Strategies LP raised its holdings in shares of Northrim BanCorp by 9.8% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,960 shares of the financial services provider's stock worth $369,000 after acquiring an additional 355 shares during the last quarter. Finally, Quarry LP boosted its stake in Northrim BanCorp by 47.7% during the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 412 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors.

Northrim BanCorp Stock Performance

Shares of NRIM opened at $26.99 on Thursday. The stock has a 50 day moving average of $26.40 and a 200 day moving average of $25.10. The company has a market capitalization of $600.53 million, a price-to-earnings ratio of 8.88 and a beta of 0.88. Northrim BanCorp Inc has a 12 month low of $19.60 and a 12 month high of $30.82. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $53.79 million for the quarter, compared to analysts' expectations of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. As a group, sell-side analysts forecast that Northrim BanCorp Inc will post 2.53 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 11th. Northrim BanCorp's payout ratio is 21.05%.

Analyst Upgrades and Downgrades

NRIM has been the subject of several analyst reports. Keefe, Bruyette & Woods began coverage on Northrim BanCorp in a research note on Wednesday, July 1st. They issued a "market perform" rating and a $30.00 price objective for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Insider Buying and Selling at Northrim BanCorp

In related news, EVP Jason Alexander Criqui sold 13,488 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $26.44, for a total transaction of $356,622.72. Following the completion of the sale, the executive vice president owned 12,653 shares in the company, valued at approximately $334,545.32. This trade represents a 51.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company's stock.

Northrim BanCorp Profile

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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