Nuveen Asset Management LLC Has $930,000 Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Nuveen Asset Management LLC trimmed its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 56.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,929 shares of the financial services provider's stock after selling 15,770 shares during the quarter. Nuveen Asset Management LLC owned 0.22% of Northrim BanCorp worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NRIM. SG Americas Securities LLC boosted its position in shares of Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 513 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. Sunpointe LLC bought a new stake in shares of Northrim BanCorp in the fourth quarter valued at approximately $339,000. Bank of New York Mellon Corp boosted its position in shares of Northrim BanCorp by 16.6% in the fourth 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 period. Finally, Raymond James Financial Inc. bought a new stake in shares of Northrim BanCorp in the fourth quarter valued at approximately $1,794,000. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Stock Performance

NRIM stock traded up $0.61 during midday trading on Friday, hitting $88.46. The stock had a trading volume of 30,029 shares, compared to its average volume of 33,484. The firm has a market capitalization of $488.39 million, a price-to-earnings 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. The stock has a 50-day simple moving average of $80.73 and a 200 day simple moving average of $80.50. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. The firm had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. As a group, equities research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The business 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 dividend of $0.64 per share. The ex-dividend date is Thursday, June 5th. This represents a $2.56 annualized dividend and a yield of 2.89%. Northrim BanCorp's dividend payout ratio is currently 34.04%.

Analyst Ratings Changes

NRIM has been the subject of several research reports. Wall Street Zen cut Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Hovde Group raised their target price on Northrim BanCorp from $99.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th.

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.