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

Alaska Wealth Advisors raised its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 113.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,429 shares of the financial services provider's stock after purchasing an additional 14,569 shares during the period. Northrim BanCorp accounts for about 0.3% of Alaska Wealth Advisors' investment portfolio, making the stock its 26th largest position. Alaska Wealth Advisors owned approximately 0.50% of Northrim BanCorp worth $2,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 7,009 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Northrim BanCorp during the 4th quarter valued at about $1,794,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Northrim BanCorp by 47.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,023 shares of the financial services provider's stock valued at $1,327,000 after acquiring an additional 5,455 shares during the last quarter. Semanteon Capital Management LP acquired a new position in shares of Northrim BanCorp during the 4th quarter valued at about $201,000. Finally, Quantbot Technologies LP acquired a new position in shares of Northrim BanCorp during the 4th quarter valued at about $112,000. 65.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NRIM has been the topic of a number of 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 report on Monday, April 28th. Wall Street Zen lowered Northrim BanCorp from a "buy" rating to a "hold" rating in a report on Monday, July 7th.

Northrim BanCorp Stock Performance

NRIM traded up $1.77 during midday trading on Wednesday, reaching $94.92. The company's stock had a trading volume of 51,172 shares, compared to its average volume of 38,545. The stock has a market cap of $523.96 million, a P/E ratio of 12.62 and a beta of 0.96. The company has a fifty day simple moving average of $90.85 and a 200 day simple moving average of $82.27. 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 Inc has a twelve month low of $58.49 and a twelve month high of $100.21.

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

Northrim BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, June 5th. Northrim BanCorp's payout ratio 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.