Occudo Quantitative Strategies LP Takes $221,000 Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Occudo Quantitative Strategies LP bought a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the 4th quarter, according to the company in its most recent 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 0.05% of Northrim BanCorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in NRIM. JPMorgan Chase & Co. lifted its stake in shares of Northrim BanCorp by 150.4% in the third quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider's stock valued at $404,000 after buying an additional 3,411 shares during the period. Ritholtz Wealth Management lifted its stake in Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider's stock worth $479,000 after purchasing an additional 2,980 shares during the period. SG Americas Securities LLC lifted its stake in Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock worth $195,000 after purchasing an additional 513 shares during the period. DecisionPoint Financial LLC bought a new position in Northrim BanCorp during the fourth quarter worth about $39,000. Finally, Sunpointe LLC bought a new position in Northrim BanCorp during the fourth quarter worth about $339,000. Institutional investors own 65.99% of the company's stock.

Northrim BanCorp Price Performance

NRIM traded up $0.78 during midday trading on Friday, reaching $88.13. 47,862 shares of the company's stock were exchanged, compared to its average volume of 30,880. The firm has a market capitalization of $486.57 million, a price-to-earnings ratio of 13.31 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a one year low of $51.50 and a one year high of $91.72. The business has a 50-day simple moving average of $77.58 and a two-hundred day simple moving average of $79.82.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, topping 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 firm had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. As a group, research analysts predict that Northrim BanCorp, Inc. will post 8.05 EPS 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. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.90%. Northrim BanCorp's dividend payout ratio (DPR) is currently 34.04%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised 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.

Northrim BanCorp 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.