GAMMA Investing LLC Has $938,000 Stock Holdings in Northrim BanCorp Inc (NASDAQ:NRIM)

GAMMA Investing LLC lifted its holdings in Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 37,588.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,814 shares of the financial services provider's stock after buying an additional 12,780 shares during the quarter. GAMMA Investing LLC owned about 0.23% of Northrim BanCorp worth $938,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NRIM. Tower Research Capital LLC TRC raised its holdings 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 valued at $29,000 after buying an additional 133 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Northrim BanCorp in the fourth quarter worth about $112,000. Semanteon Capital Management LP acquired a new stake in Northrim BanCorp in the fourth quarter worth about $201,000. Man Group plc acquired a new stake in Northrim BanCorp in the fourth quarter worth about $217,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Northrim BanCorp in the fourth quarter worth about $221,000. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Stock Up 0.8%

Shares of NASDAQ:NRIM traded up $0.72 during trading on Thursday, hitting $87.40. 72,631 shares of the company's stock traded hands, compared to its average volume of 34,898. Northrim BanCorp Inc has a 52 week low of $54.58 and a 52 week high of $92.45. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $482.45 million, a price-to-earnings ratio of 11.62 and a beta of 0.98. The company has a 50-day moving average price of $84.06 and a 200-day moving average price of $80.69.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.82. The business had revenue of $45.50 million for the quarter, compared to analysts' expectations of $44.10 million. Northrim BanCorp had a return on equity of 15.97% and a net margin of 20.23%. As a group, research analysts forecast that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, June 5th. Northrim BanCorp's dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

NRIM has been the subject of a number of research reports. Hovde Group lifted their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the stock an "outperform" rating in a research 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.

About Northrim BanCorp

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.