Alaska Wealth Advisors Purchases 14,569 Shares of Northrim BanCorp Inc (NASDAQ:NRIM)

Alaska Wealth Advisors lifted its holdings in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 113.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,429 shares of the financial services provider's stock after acquiring an additional 14,569 shares during the period. Northrim BanCorp makes up 0.3% of Alaska Wealth Advisors' holdings, making the stock its 26th biggest holding. Alaska Wealth Advisors owned 0.50% of Northrim BanCorp worth $2,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in shares of Northrim BanCorp during the 4th quarter valued at approximately $665,000. Millennium Management LLC purchased a new stake in shares of Northrim BanCorp during the 4th quarter valued at approximately $548,000. Man Group plc purchased a new stake in shares of Northrim BanCorp during the 4th quarter valued at approximately $217,000. GAMMA Investing LLC lifted its stake in shares of Northrim BanCorp by 37,588.2% during the 1st quarter. GAMMA Investing LLC now owns 12,814 shares of the financial services provider's stock valued at $938,000 after buying an additional 12,780 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Northrim BanCorp by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider's stock valued at $3,840,000 after buying an additional 7,009 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on NRIM shares. Hovde Group upped their price target on shares of Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a research note on Monday, July 7th.

Northrim BanCorp Price Performance

Shares of NASDAQ:NRIM traded up $2.07 during trading on Monday, reaching $96.78. The company had a trading volume of 62,727 shares, compared to its average volume of 38,456. The company has a fifty day moving average of $90.12 and a two-hundred day moving average of $81.96. The stock has a market capitalization of $534.32 million, a P/E ratio of 12.87 and a beta of 0.96. Northrim BanCorp Inc has a 12 month low of $58.49 and a 12 month high of $100.21. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a net margin of 20.23% and a return on equity of 15.97%. The company had revenue of $45.50 million for the quarter, compared to analyst estimates of $44.10 million. Equities research analysts forecast that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, June 5th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, June 5th. Northrim BanCorp's dividend payout ratio (DPR) is presently 34.04%.

Northrim BanCorp Company 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.