Redmont Wealth Advisors LLC Has $779,000 Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Redmont Wealth Advisors LLC cut its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 4.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,933 shares of the financial services provider’s stock after selling 485 shares during the quarter. Northrim BanCorp accounts for about 1.2% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 19th biggest holding. Redmont Wealth Advisors LLC owned about 0.20% of Northrim BanCorp worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NRIM. SG Americas Securities LLC bought a new position in shares of Northrim BanCorp during the 3rd quarter worth approximately $142,000. Fulton Bank N.A. acquired a new position in Northrim BanCorp during the third quarter worth $214,000. Ritholtz Wealth Management bought a new position in Northrim BanCorp in the third quarter valued at $226,000. Sei Investments Co. increased its stake in Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after buying an additional 600 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Northrim BanCorp by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock worth $386,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $72.81 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.79. The business has a 50-day moving average of $67.46 and a 200-day moving average of $59.45. The stock has a market capitalization of $400.46 million, a price-to-earnings ratio of 14.19 and a beta of 0.71. Northrim BanCorp, Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $74.34.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.31. The firm had revenue of $46.49 million during the quarter, compared to the consensus estimate of $35.00 million. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. As a group, sell-side analysts predict that Northrim BanCorp, Inc. will post 5.83 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, September 5th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. Northrim BanCorp’s payout ratio is 48.34%.

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director Joseph Marushack bought 493 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $60.22 per share, with a total value of $29,688.46. Following the acquisition, the director now owns 2,768 shares of the company’s stock, valued at $166,688.96. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

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.