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

Millennium Management LLC acquired a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 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 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of NRIM. Tower Research Capital LLC TRC lifted its position in shares of Northrim BanCorp by 57.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 133 shares during the period. DecisionPoint Financial LLC bought a new stake in shares of Northrim BanCorp in the fourth quarter valued at approximately $39,000. Quantbot Technologies LP bought a new stake in Northrim BanCorp during the fourth quarter valued at $112,000. SG Americas Securities LLC raised its stake in shares of Northrim BanCorp by 25.8% during the fourth 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 bought a new position in Northrim BanCorp during the 4th quarter valued at approximately $201,000. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Stock Up 0.7%

NRIM stock opened at $88.46 on Monday. The firm has a 50-day simple moving average of $80.73 and a 200-day simple moving average of $80.50. 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 stock has a market capitalization of $488.39 million, a P/E ratio of 13.36 and a beta of 0.98. Northrim BanCorp, Inc. has a 52 week low of $52.10 and a 52 week high of $92.45.

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

Northrim BanCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, June 5th will be issued a $0.64 dividend. The ex-dividend date is Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.89%. Northrim BanCorp's dividend payout ratio (DPR) is presently 34.04%.

Analysts Set New Price Targets

NRIM has been the topic of several recent analyst reports. Hovde Group increased their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded 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.

Want to see what other hedge funds are holding NRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.