Man Group plc Purchases New Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Man Group plc acquired a new stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,785 shares of the financial services provider's stock, valued at approximately $217,000. Man Group plc owned 0.05% of Northrim BanCorp as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NRIM. Segall Bryant & Hamill LLC bought a new position in Northrim BanCorp during the 4th quarter valued at $2,111,000. Raymond James Financial Inc. bought a new position in Northrim BanCorp during the 4th quarter valued at $1,794,000. American Century Companies Inc. boosted its stake in Northrim BanCorp by 16.4% during the 4th quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider's stock valued at $9,522,000 after acquiring an additional 17,240 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Northrim BanCorp by 202.7% during the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider's stock valued at $1,340,000 after acquiring an additional 11,514 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in Northrim BanCorp by 140.2% during the 4th quarter. Martingale Asset Management L P now owns 16,736 shares of the financial services provider's stock valued at $1,304,000 after acquiring an additional 9,769 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised 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 Price Performance

Northrim BanCorp stock traded up $1.51 during trading hours on Thursday, hitting $91.76. 273,747 shares of the company traded hands, compared to its average volume of 32,692. The firm has a market cap of $506.61 million, a P/E ratio of 13.86 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm's 50-day simple moving average is $78.85 and its two-hundred day simple moving average is $80.21. Northrim BanCorp, Inc. has a 1-year low of $52.10 and a 1-year high of $91.72.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $1.56 by $0.82. The company had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. As a group, analysts forecast that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, June 5th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, June 5th. Northrim BanCorp's dividend payout ratio (DPR) is presently 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.