Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Sold by Alaska Wealth Advisors

Alaska Wealth Advisors reduced its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,860 shares of the financial services provider’s stock after selling 1,505 shares during the period. Alaska Wealth Advisors’ holdings in Northrim BanCorp were worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its position in Northrim BanCorp by 8.0% in the third quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after acquiring an additional 8,012 shares in the last quarter. Ritholtz Wealth Management grew its position 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 buying an additional 2,980 shares during the last quarter. Barclays PLC grew its holdings in shares of Northrim BanCorp by 32.5% in the 3rd quarter. Barclays PLC now owns 20,689 shares of the financial services provider’s stock worth $1,474,000 after acquiring an additional 5,079 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Northrim BanCorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock worth $9,040,000 after purchasing an additional 2,133 shares during the period. Finally, FMR LLC boosted its position in shares of Northrim BanCorp by 13.1% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 65.99% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $89.18, for a total transaction of $40,398.54. Following the sale, the chief executive officer now directly owns 23,759 shares of the company’s stock, valued at $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Northrim BanCorp Stock Up 1.6 %

Shares of Northrim BanCorp stock opened at $89.73 on Wednesday. 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, Inc. has a 1 year low of $43.92 and a 1 year high of $91.72. The stock has a 50-day moving average price of $81.18 and a 200 day moving average price of $74.27. The company has a market cap of $493.52 million, a P/E ratio of 13.55 and a beta of 0.83.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. As a group, analysts expect that Northrim BanCorp, Inc. will post 7.96 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be issued a $0.64 dividend. The ex-dividend date of this dividend is 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 2.85%. Northrim BanCorp’s dividend payout ratio is 37.46%.

Analyst Ratings Changes

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

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.