23,017 Shares in Northrim BanCorp, Inc. (NASDAQ:NRIM) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,017 shares of the financial services provider's stock, valued at approximately $1,794,000. Raymond James Financial Inc. owned about 0.42% of Northrim BanCorp at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Martingale Asset Management L P boosted its stake in Northrim BanCorp by 140.2% in the 4th quarter. Martingale Asset Management L P now owns 16,736 shares of the financial services provider's stock worth $1,304,000 after purchasing an additional 9,769 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Northrim BanCorp by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,354 shares of the financial services provider's stock worth $261,000 after buying an additional 679 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Northrim BanCorp by 95.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,642 shares of the financial services provider's stock valued at $674,000 after buying an additional 4,228 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Northrim BanCorp by 28.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the financial services provider's stock valued at $2,815,000 after acquiring an additional 7,961 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Northrim BanCorp by 202.7% in the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider's stock valued at $1,340,000 after acquiring an additional 11,514 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Stock Performance

Northrim BanCorp stock traded up $0.08 during midday trading on Wednesday, reaching $82.80. 32,637 shares of the company traded hands, compared to its average volume of 29,916. Northrim BanCorp, Inc. has a 12 month low of $50.52 and a 12 month high of $91.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The business has a 50 day moving average of $74.56 and a two-hundred day moving average of $78.08. The firm has a market capitalization of $457.11 million, a price-to-earnings ratio of 12.51 and a beta of 0.93.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $44.10 million. As a group, research analysts predict that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, April 28th.

Insider Buying and Selling at Northrim BanCorp

In other news, CEO Michael G. Huston sold 453 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the sale, the chief executive officer now owns 23,759 shares of the company's stock, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.