Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 202.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,193 shares of the financial services provider's stock after purchasing an additional 11,514 shares during the period. JPMorgan Chase & Co. owned approximately 0.31% of Northrim BanCorp worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. DecisionPoint Financial LLC purchased a new position in shares of Northrim BanCorp in the 4th quarter worth $39,000. Quantbot Technologies LP purchased a new position in shares of Northrim BanCorp in the 4th quarter worth about $112,000. SG Americas Securities LLC lifted its stake 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 valued at $195,000 after purchasing an additional 513 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Northrim BanCorp during the 4th quarter worth about $201,000. Finally, Sunpointe LLC purchased a new stake in shares of Northrim BanCorp during the 4th quarter worth about $339,000. Institutional investors and hedge funds own 65.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, Hovde Group lifted their price target on shares of Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday.

Northrim BanCorp Stock Up 0.7 %

Shares of NRIM traded up $0.56 during midday trading on Thursday, reaching $80.85. 1,151 shares of the company were exchanged, compared to its average volume of 29,559. Northrim BanCorp, Inc. has a 1-year low of $47.73 and a 1-year high of $91.72. The stock has a 50-day moving average price of $74.44 and a 200-day moving average price of $77.71. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $446.37 million, a price-to-earnings ratio of 12.21 and a beta of 0.73.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $44.10 million. Research analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Insider Activity at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $89.18, for a total value of $40,398.54. Following the sale, the chief executive officer now directly owns 23,759 shares of the company's stock, valued at $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.90% of the company's stock.

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.