Informed Momentum Co LLC Sells 6,798 Shares of Northrim BanCorp Inc $NRIM

Key Points

• Informed Momentum Co LLC reduced its stock position in Northrim BanCorp Inc (NASDAQ:NRIM) by 52.1% during the first quarter, now holding 6,245 shares valued at approximately $457,000.
• Several large investors, including Vanguard Group, JPMorgan Chase, and Barclays PLC, have recently increased their holdings in Northrim BanCorp, indicating continued institutional interest.
• Northrim BanCorp's latest earnings report showed an EPS of $2.09, which fell short of the consensus estimate, while revenue exceeded expectations at $50.23 million.

Informed Momentum Co LLC lowered its position in Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,245 shares of the financial services provider's stock after selling 6,798 shares during the quarter. Informed Momentum Co LLC owned about 0.11% of Northrim BanCorp worth $457,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Northrim BanCorp by 10.8% in the first quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider's stock valued at $24,427,000 after acquiring an additional 32,492 shares during the last quarter. De Lisle Partners LLP increased 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 acquiring an additional 17,888 shares during the last quarter. Zacks Investment Management increased its stake in Northrim BanCorp by 1.7% in the fourth quarter. Zacks Investment Management now owns 44,952 shares of the financial services provider's stock valued at $3,504,000 after acquiring an additional 744 shares during the last quarter. Alaska Wealth Advisors increased its stake 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. Finally, Raymond James Financial Inc. bought a new position in Northrim BanCorp in the fourth quarter valued at $1,794,000. Institutional investors own 65.99% of the company's stock.

Northrim BanCorp Stock Up 2.0%

Shares of NRIM traded up $1.69 on Monday, hitting $88.00. 11,802 shares of the stock traded hands, compared to its average volume of 49,461. The company has a market capitalization of $485.73 million, a PE ratio of 11.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.91. The business has a 50 day simple moving average of $90.27 and a 200 day simple moving average of $83.78. Northrim BanCorp Inc has a one year low of $63.63 and a one year high of $100.21.

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

Northrim BanCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, June 5th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.9%. Northrim BanCorp's payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

NRIM has been the subject of several analyst reports. Wall Street Zen lowered shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Hovde Group raised their price objective on shares of Northrim BanCorp from $99.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, April 28th.

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.