Nuveen Asset Management LLC Sells 15,770 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Nuveen Asset Management LLC cut its stake 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 (SEC). The firm owned 11,929 shares of the financial services provider's stock after selling 15,770 shares during the period. Nuveen Asset Management LLC owned 0.22% of Northrim BanCorp worth $930,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Northrim BanCorp by 25.8% in the 4th 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. DecisionPoint Financial LLC bought a new position in Northrim BanCorp in the fourth quarter worth $39,000. Sunpointe LLC bought a new position in Northrim BanCorp in the fourth quarter worth $339,000. Bank of New York Mellon Corp lifted its position in Northrim BanCorp by 16.6% during 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 buying an additional 7,009 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Northrim BanCorp during the 4th quarter valued at $1,794,000. 65.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Northrim BanCorp Stock Up 0.7%

NRIM stock traded up $0.61 on Friday, reaching $88.46. 30,029 shares of the company traded hands, compared to its average volume of 33,468. The firm has a fifty day simple moving average of $80.44 and a 200-day simple moving average of $80.49. The company has a market cap of $488.39 million, a P/E ratio of 13.36 and a beta of 0.98. Northrim BanCorp, Inc. has a one year low of $52.10 and a one year high of $92.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81.

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

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, June 5th will be paid a $0.64 dividend. The ex-dividend date is Thursday, June 5th. This represents a $2.56 annualized dividend and a dividend yield of 2.89%. Northrim BanCorp's dividend payout ratio is presently 34.04%.

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.