Renaissance Technologies LLC Sells 9,200 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Renaissance Technologies LLC cut its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,800 shares of the financial services provider's stock after selling 9,200 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of Northrim BanCorp worth $1,777,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NRIM. Bank of New York Mellon Corp boosted its stake in Northrim BanCorp by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider's stock worth $3,840,000 after acquiring an additional 7,009 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Northrim BanCorp by 94.0% in 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. Barclays PLC boosted its position in shares of Northrim BanCorp by 32.5% during the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider's stock worth $1,474,000 after purchasing an additional 5,079 shares in the last quarter. American Century Companies Inc. grew its holdings 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. Finally, Geode Capital Management LLC increased its position in shares of Northrim BanCorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider's stock valued at $9,040,000 after buying an additional 2,133 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company's stock.

Northrim BanCorp Stock Down 1.4 %

NRIM stock traded down $1.12 during mid-day trading on Wednesday, hitting $80.29. 19,366 shares of the company were exchanged, compared to its average volume of 29,618. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. Northrim BanCorp, Inc. has a 1-year low of $46.60 and a 1-year high of $91.72. The firm's 50 day simple moving average is $74.45 and its 200 day simple moving average is $77.69. The firm has a market cap of $443.28 million, a P/E ratio of 12.13 and a beta of 0.73.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share 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 company had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. On average, sell-side analysts predict that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $40,398.54. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

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

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.