Jason Alexander Criqui Sells 13,488 Shares of Northrim BanCorp (NASDAQ:NRIM) Stock

Key Points

• Executive Jason Alexander Criqui sold 13,488 Northrim BanCorp shares at an average price of $26.44, generating $356,622.72. His remaining ownership fell 51.6% to 12,653 shares.
• Northrim BanCorp shares rose 2.0% to $27.05, while the company reported quarterly EPS of $0.68—beating estimates by $0.07—and revenue of $53.79 million.
• Analysts maintain a “Moderate Buy” consensus with an average $31.50 price target; the company also pays a quarterly dividend of $0.16 per share, yielding approximately 2.4% annually.

Northrim BanCorp Inc (NASDAQ:NRIM - Get Free Report) EVP Jason Alexander Criqui sold 13,488 shares of Northrim BanCorp stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $26.44, for a total transaction of $356,622.72. Following the sale, the executive vice president owned 12,653 shares in the company, valued at approximately $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Northrim BanCorp Trading Up 2.0%

Shares of NASDAQ:NRIM traded up $0.54 during mid-day trading on Monday, reaching $27.05. 37,700 shares of the company's stock were exchanged, compared to its average volume of 164,839. The firm has a market capitalization of $601.86 million, a price-to-earnings ratio of 8.90 and a beta of 0.88. Northrim BanCorp Inc has a twelve month low of $19.60 and a twelve month high of $30.82. The business's fifty day moving average price is $26.26 and its 200-day moving average price is $25.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. The firm had revenue of $53.79 million for the quarter, compared to analyst estimates of $51.80 million. Northrim BanCorp had a return on equity of 17.62% and a net margin of 26.03%. On average, research analysts predict that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. Northrim BanCorp's dividend payout ratio is 21.05%.

Analyst Ratings Changes

NRIM has been the subject of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods began coverage on Northrim BanCorp in a report on Wednesday, July 1st. They issued a "market perform" rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $31.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NRIM. Royal Bank of Canada grew its stake in Northrim BanCorp by 21.5% in the first quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider's stock valued at $2,892,000 after acquiring an additional 6,990 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Northrim BanCorp in the 1st quarter worth $210,000. AQR Capital Management LLC lifted its holdings in shares of Northrim BanCorp by 171.3% in the 1st quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider's stock worth $978,000 after purchasing an additional 8,431 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Northrim BanCorp by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 156 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Northrim BanCorp by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider's stock valued at $2,085,000 after purchasing an additional 6,599 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska's major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.

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