Occudo Quantitative Strategies LP Makes New Investment in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Occudo Quantitative Strategies LP bought a new position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,835 shares of the financial services provider's stock, valued at approximately $221,000. Occudo Quantitative Strategies LP owned about 0.05% of Northrim BanCorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted 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 in the last quarter. Ritholtz Wealth Management grew its stake in shares of Northrim BanCorp by 94.0% in the 4th quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider's stock valued at $479,000 after buying an additional 2,980 shares during the period. American Century Companies Inc. grew its stake in shares of Northrim BanCorp by 16.4% in the 4th quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider's stock valued at $9,522,000 after buying an additional 17,240 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Northrim BanCorp by 202.7% during the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider's stock worth $1,340,000 after buying an additional 11,514 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Northrim BanCorp by 28.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the financial services provider's stock valued at $2,815,000 after buying an additional 7,961 shares during the period. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Trading Down 1.1%

Shares of NASDAQ NRIM traded down $0.99 during mid-day trading on Wednesday, reaching $88.64. 40,408 shares of the company's stock were exchanged, compared to its average volume of 30,661. The company's 50-day moving average is $76.72 and its 200-day moving average is $79.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The firm has a market capitalization of $489.38 million, a price-to-earnings ratio of 13.39 and a beta of 0.93. Northrim BanCorp, Inc. has a 52-week low of $51.50 and a 52-week high of $91.72.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.82. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. The company had revenue of $45.50 million for the quarter, compared to analysts' expectations of $44.10 million. Analysts expect that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Hovde Group increased their price objective 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.