The Manufacturers Life Insurance Company Lowers Stake in Northrim BanCorp, Inc. (NASDAQ:NRIM)

The Manufacturers Life Insurance Company reduced its position in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 211,789 shares of the financial services provider's stock after selling 3,635 shares during the quarter. The Manufacturers Life Insurance Company owned about 3.85% of Northrim BanCorp worth $16,507,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NRIM. Tower Research Capital LLC TRC raised its holdings in Northrim BanCorp by 57.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider's stock worth $29,000 after purchasing an additional 133 shares in the last quarter. DecisionPoint Financial LLC acquired a new position in Northrim BanCorp during the 4th quarter worth approximately $39,000. Quantbot Technologies LP acquired a new position in Northrim BanCorp during the 4th quarter worth approximately $112,000. SG Americas Securities LLC raised its stake in shares of Northrim BanCorp by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock worth $195,000 after buying an additional 513 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in shares of Northrim BanCorp in the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 65.99% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CEO Michael G. Huston sold 453 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $89.18, for a total value of $40,398.54. Following the completion of the transaction, the chief executive officer now owns 23,759 shares in the company, valued at $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Northrim BanCorp Price Performance

Shares of NRIM traded up $0.08 during trading hours on Wednesday, reaching $82.80. The company had a trading volume of 32,637 shares, compared to its average volume of 29,837. The company has a market capitalization of $457.11 million, a price-to-earnings ratio of 12.51 and a beta of 0.93. Northrim BanCorp, Inc. has a 12-month low of $50.38 and a 12-month high of $91.72. The firm has a 50 day simple moving average of $74.55 and a 200-day simple moving average of $78.05. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.82. The company had revenue of $45.50 million during the quarter, compared to the consensus estimate of $44.10 million. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. Research analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

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.