Millennium Management LLC Makes New $548,000 Investment in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Millennium Management LLC bought a new stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,033 shares of the financial services provider's stock, valued at approximately $548,000. Millennium Management LLC owned about 0.13% of Northrim BanCorp at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NRIM. Tower Research Capital LLC TRC grew its position in Northrim BanCorp by 57.1% in the 4th 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 in the last quarter. DecisionPoint Financial LLC purchased a new stake in Northrim BanCorp during the fourth quarter valued at about $39,000. Quantbot Technologies LP purchased a new stake in shares of Northrim BanCorp in the fourth quarter valued at $112,000. SG Americas Securities LLC lifted its stake 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 acquiring an additional 513 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new stake in shares of Northrim BanCorp in the fourth quarter worth approximately $201,000. 65.99% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp Stock Performance

Shares of Northrim BanCorp stock traded down $0.28 on Thursday, reaching $90.08. The stock had a trading volume of 32,588 shares, compared to its average volume of 33,937. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The business's 50-day moving average price is $81.91 and its two-hundred day moving average price is $80.64. The stock has a market cap of $497.33 million, a P/E ratio of 13.61 and a beta of 0.98. Northrim BanCorp, Inc. has a fifty-two week low of $52.68 and a fifty-two week high of $92.45.

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 for the quarter, beating 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 return on equity of 14.86% and a net margin of 18.87%. On average, sell-side analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Dividend Announcement

The firm also recently disclosed 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 2.84%. The ex-dividend date of this dividend is Thursday, June 5th. Northrim BanCorp's dividend payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen lowered Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Hovde Group increased their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, April 28th.

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.