Man Group plc Makes New $217,000 Investment in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Man Group plc bought a new position in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,785 shares of the financial services provider's stock, valued at approximately $217,000. Man Group plc owned approximately 0.05% of Northrim BanCorp at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Northrim BanCorp by 57.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. DecisionPoint Financial LLC purchased a new stake in Northrim BanCorp in the 4th quarter worth $39,000. Quantbot Technologies LP purchased a new position in Northrim BanCorp in the 4th quarter valued at about $112,000. SG Americas Securities LLC boosted its holdings in 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 last quarter. Finally, Semanteon Capital Management LP acquired a new position in Northrim BanCorp during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 65.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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 target on shares of Northrim BanCorp from $99.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th.

Northrim BanCorp Stock Performance

Shares of Northrim BanCorp stock traded up $0.08 on Friday, reaching $91.84. 107,774 shares of the stock were exchanged, compared to its average volume of 32,918. The business has a fifty day moving average price of $79.20 and a two-hundred day moving average price of $80.26. Northrim BanCorp, Inc. has a 1-year low of $52.10 and a 1-year high of $92.45. The firm has a market capitalization of $507.05 million, a PE ratio of 13.87 and a beta of 0.93. 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 earnings per share (EPS) for the quarter, topping 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 14.86% and a net margin of 18.87%. As a group, research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.64 per share. The ex-dividend date is Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.79%. Northrim BanCorp's payout ratio is currently 34.04%.

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.