Segall Bryant & Hamill LLC Makes New $2.11 Million Investment in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Segall Bryant & Hamill LLC bought a new stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 27,087 shares of the financial services provider’s stock, valued at approximately $2,111,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock valued at $7,661,000 after buying an additional 8,012 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Northrim BanCorp by 16.6% in 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 purchasing an additional 7,009 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 2,980 shares during the last quarter. Barclays PLC grew its position in Northrim BanCorp by 32.5% in the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 5,079 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after buying an additional 201 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on Northrim BanCorp in a report on Friday, December 20th. They issued an “outperform” rating and a $96.50 target price on the stock.

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 transaction, the chief executive officer now directly owns 23,759 shares in the company, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.10% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ:NRIM opened at $74.97 on Friday. The company’s fifty day moving average is $80.31 and its two-hundred day moving average is $77.03. The company has a market cap of $413.91 million, a P/E ratio of 11.32 and a beta of 0.82. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $91.72. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. Equities analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 3.41%. Northrim BanCorp’s payout ratio is presently 38.67%.

About Northrim BanCorp

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.