Northrim BanCorp Inc (NASDAQ:NRIM) Shares Bought by De Lisle Partners LLP

Key Points

• De Lisle Partners LLP has increased its position in Northrim BanCorp Inc by 23.2%, now holding 94,983 shares, making it the 22nd largest position in their portfolio.
• Institutional ownership accounts for 65.99% of Northrim BanCorp's stock, with several firms like Vanguard and American Century increasing their stakes during the previous quarters.
• Northrim BanCorp recently announced a quarterly dividend of $0.64 per share, representing an annualized yield of 2.98% with a payout ratio of 32.04%.

De Lisle Partners LLP increased its holdings in shares of Northrim BanCorp Inc (NASDAQ:NRIM - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,983 shares of the financial services provider's stock after buying an additional 17,888 shares during the period. Northrim BanCorp comprises approximately 1.2% of De Lisle Partners LLP's investment portfolio, making the stock its 22nd largest holding. De Lisle Partners LLP owned approximately 1.72% of Northrim BanCorp worth $6,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NRIM. Federated Hermes Inc. lifted its holdings in Northrim BanCorp by 388.6% in the 1st quarter. Federated Hermes Inc. now owns 342 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 133 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Northrim BanCorp in the 1st quarter valued at $55,000. Quantbot Technologies LP purchased a new position in Northrim BanCorp in the 4th quarter valued at $112,000. Finally, Man Group plc purchased a new position in Northrim BanCorp in the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 65.99% of the company's stock.

Wall Street Analyst Weigh In

NRIM has been the topic of a number of research reports. Hovde Group raised 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 Saturday, July 26th.

Northrim BanCorp Trading Down 2.2%

Shares of NRIM traded down $1.85 during midday trading on Friday, reaching $81.68. The company had a trading volume of 50,772 shares, compared to its average volume of 49,777. Northrim BanCorp Inc has a 1-year low of $58.49 and a 1-year high of $100.21. The stock has a market cap of $450.87 million, a PE ratio of 10.22 and a beta of 0.96. The firm has a 50 day simple moving average of $91.56 and a 200-day simple moving average of $83.41. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 0.25.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.26 by ($0.17). Northrim BanCorp had a return on equity of 16.35% and a net margin of 20.11%. The company had revenue of $50.23 million during the quarter, compared to analyst estimates of $48.80 million. Research analysts forecast that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, June 5th were paid a $0.64 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.1%. Northrim BanCorp's dividend payout ratio (DPR) is 32.04%.

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.